NFU alarmed by House passage of Tax Reform Bill
WASHINGTON – The U.S. House of Representatives voted 227-205 to approve the Tax Cuts and Jobs Act on Nov. 16, a bill that would provide tax cuts and breaks to corporations and wealthy Americans at an estimated cost of $1.5 trillion.
National Farmers Union (NFU), a staunch opponent of regressive taxation, increased federal debt, and any legislation that jeopardizes farm program funding, urged House members to vote against the legislation and scored the vote.
In response to the vote, NFU Senior Vice President of Public Policy and Communications Rob Larew released the following statement:
“NFU is alarmed by the House’s decision to pass highly flawed tax reform legislation that has disastrous implications for American family farmers and ranchers. The policies put forth by this bill would increase the tax burden on family farmers and the middle class, and they add a massive $1.5 trillion to our national deficit. On top of that, they potentially put funding for vital farm safety net programs on the chopping block and jeopardize passage of the Farm Bill.
“We urge the Senate to reconsider their current legislation, as it has comparable implications for family farm agriculture. Farmers Union will continue to advocate for simplified, progressive tax reform that recognizes the needs of family farmers and ranchers.”