Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   

Beef Buzz News


NCBA's Tax Maven Danielle Beck Talks Turkey on Pre-Thanksgiving Tax Package and Its Impact

Fri, 17 Nov 2017 11:46:03 CST

NCBA's Tax Maven Danielle Beck Talks Turkey on Pre-Thanksgiving Tax Package and Its Impact On Thursday, the House of Representatives passed HR1, the Tax Cuts and Jobs Act, in tandem with the Senate's passage of its own version of the legislation. With key provisions important to the livestock industry included in both of these plans, the National Cattlemen's Beef Association joined other groups in the ag industry in praising the move by legislators. Danielle Beck, NCBA's tax specialist who works in the organization's DC office, offered reaction and an explanation of some of the bill's highlights, particularly concerning the movement on the Death Tax, to Radio Oklahoma Ag Network Farm Director Ron Hays.


"The bill immediately doubles the exemption limits on the Death Tax and then in 2025, the Death tax would be permanently repealed," she explained. "That's excellent news. We're thrilled that House legislators maintained their long-standing commitment to the livestock and agricultural industries and that they're going to get rid of the Death Tax once and for all."


Furthermore, Beck says NCBA is pleased with several other provisions in this proposed plan, likely to come before the full consideration of Congress after Thanksgiving, according to the latest updates. Beck says the House bill would allow for full and immediate expensing after September 2017, but before January 2023. All purchases made, would there for receive a 100 percent bonused appreciation. It also increases the small business expensing cap under Section 179 from $500,000 to $5 million, and lifts the dollar for dollar phase out that exists at $2 million currently, to $20 million - also affective from 2017 to 2023. The Senate bill aligns fairly close to the House version, but to a lesser degree. It does not provide a complete repeal of the Death Tax and is a shade lighter in its expansion of Section 179. These and some other minor issues are expected to hopefully be worked out in conference negotiations and Beck is optimistic some fair solutions will come about.


"The House Ways and Means Committee understands how important this issue is to us," Beck said. "We've received verbal commitments from a number of members on that committee that moving into conference, they are committed to addressing this, to ensure that agricultural producers come out on the winning end of this once the tax reform is finally enacted."


Listen to NCBA's Danielle Beck and Ron Hays discuss the details of the tax reform package that passed through the House and Senate this week, on today's Beef Buzz.


The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.



   



   

Listen to NCBA's Danielle Beck and Ron Hays discuss the details of proposed tax reform packages
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 

Beef News

  • January Cattle on Feed Report Three Percent Under Year Ago- Derrell Peel Says Tighter Supplies Will Be Around for Awhile  Mon, 23 Jan 2023 05:15:04 CST
  • Derrell Peel Talks Latest Cattle on Feed Report- Showing Fewer Cattle on Feed, Lighter Placements and Stronger Marketings.  Mon, 26 Dec 2022 08:19:00 CST
  • Kara Lee with Certified Angus Beef Tells Cattlemen 'Cut the Bull'  Fri, 23 Dec 2022 14:30:39 CST
  • Beef Checkoff Utilizes Digital Marketing Techniques to Interact with Consumers   Thu, 22 Dec 2022 16:02:51 CST
  • Beef Checkoff Research, Education, and Promotion Efforts Point Consumers to Beef  Wed, 21 Dec 2022 16:15:46 CST
  • OSU Economist Derrell Peel Expects US Beef Export Strength to Continue Into the New Year   Tue, 20 Dec 2022 08:00:35 CST
  • NPPC's Michael Formica Feeling Positive About Supreme Courts Upcoming Proposition 12 Decision  Mon, 05 Dec 2022 10:08:27 CST
  • NCBA Fights to Improve Marketing Options for Cattle Producers  Fri, 02 Dec 2022 09:58:28 CST
  • Chinese Consumers Continue to Grow Appetite for U.S. Beef  Thu, 01 Dec 2022 09:23:49 CST
  • Merck Creates Value for Producers and Consumers with Technology and Biopharmaceuticals   Wed, 30 Nov 2022 09:55:28 CST
  • NCBA’s Todd Wilkinson Ready to Fight Back Against Regulatory Overreach in the Cattle Industry   Tue, 29 Nov 2022 10:13:33 CST
  • NCBA and PLC Call ESA Listing Plan of Lesser Prairie Chicken Punitive for Cattle Producers in Southern Plains  Wed, 23 Nov 2022 14:51:02 CST
  • November Cattle on Feed Report Confirms October Pattern of Lower Placements and Tighter Cattle Numbers in Feedlots  Tue, 22 Nov 2022 05:07:02 CST
  • Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report  Mon, 21 Nov 2022 04:36:33 CST
  • Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report  Mon, 21 Nov 2022 04:27:40 CST
  • Midterm Elections to Set Stage for What Can Be Expected in 2023 Farm Bill  Mon, 07 Nov 2022 12:13:57 CST
  • USMEF's Dan Halstrom Remains Cautiously Optimistic about Strong Beef Demand Going Forward  Thu, 03 Nov 2022 09:35:46 CDT
  • Economic Factors Create Hesitancy in Beef Plant Expansion Plans  Wed, 02 Nov 2022 11:03:34 CDT
  • NCBA's Mike Simone Says Consumer Interest in Fake Meat is on the Decline  Tue, 01 Nov 2022 11:41:02 CDT
  • Beef Remains Valued Product for Consumers as it Allows Them to Stretch their Dollar  Mon, 31 Oct 2022 09:15:56 CDT
  • Hugh Aljoe Provides Methods to Begin and Maintain Good Land Stewardship  Fri, 28 Oct 2022 09:30:13 CDT
  • Implement Soil Health Practices Now to Increase Forage Production when Rains Come  Thu, 27 Oct 2022 15:14:07 CDT
  • Third Beef. It's What's For Dinner. 300 Promotes the Beef Industry on a National Level  Wed, 26 Oct 2022 15:32:23 CDT
  • Latest Cattle on Feed Report from USDA Implies Fewer Pounds of Beef Available in 2023   Tue, 25 Oct 2022 10:17:53 CDT
  • OSU's Derrell Peel- Lower Placements and Smaller On Feed Number Highlight October Cattle on Feed Report  Sun, 23 Oct 2022 12:45:37 CDT
  • Beef Checkoff Research Continues to Share Beef Sustainability Story with Consumers  Fri, 21 Oct 2022 09:23:36 CDT
  • Beef Checkoff Research Works to Ensure Consumers Beef is a Product They Can Trust  Thu, 20 Oct 2022 13:44:44 CDT
  • Odds for Significant Wheat Pasture Going Lower Daily in the Southern Plains  Wed, 19 Oct 2022 14:35:46 CDT
  • NCBA Weighs in on California's Proposition 12   Tue, 18 Oct 2022 11:32:24 CDT
  • 2022 Stockyards Steak Out Takes Oklahoma Beef to the Next Level  Mon, 17 Oct 2022 11:09:07 CDT
  • Holding Onto Your Cow Herd a Little Longer is Projected to Pay Off, says Randy Blach  Fri, 14 Oct 2022 08:14:05 CDT
  • Randy Blach Confident in Better Cattle Market Conditions Down the Road  Thu, 13 Oct 2022 09:43:02 CDT
  • No Imports or Exports Would Result in a Smaller U.S. Beef Cattle Industry  Wed, 12 Oct 2022 16:11:15 CDT
  • Derrell Peel Explains Why International Trade of Beef is Valuable  Tue, 11 Oct 2022 08:19:29 CDT
  • Animal Agriculture Hopeful for a Win as U.S. Supreme Court Looks at California's Proposition 12   Mon, 10 Oct 2022 09:26:17 CDT

  •  

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       
       
       
       
       

    Search OklahomaFarmReport.com

    © 2008-2024 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.