Today, members of both the National Cattlemen’s Beef Association (NCBA) and Iowa Cattlemen’s Association (ICA) participated in a Tax Day press conference hosted by Speaker of the House Mike Johnson. This event focused on the Working Families Tax Cuts included in the One Big Beautiful Bill (OBBB). The legislation expanded the estate tax exemption, commonly referred to as the Death Tax, and also enacted permanent increases to the Section 199A Small Business Deduction and Section 179 Deduction, and restored 100 percent Bonus Depreciation.
“The expanded estate tax relief and permanent small business provisions included in the Working Families Tax Cuts provide greater certainty and help ensure that family-owned cattle operations can be passed on to the next generation. These provisions also give producers more flexibility to reinvest in their businesses and plan for the future,” said NCBA president and Virginia cattle producer Gene Copenhaver.
NCBA, with support from its nationwide network of state affiliates including ICA, has advocated for Death Tax relief and long-term tax code stability for years. ICA President Craig Moss and Iowa cattle producer Justin Robbins participated in the event and detailed how the tax provisions in the OBBB will support their operations.
“The Iowa Cattlemen’s Association is appreciative of the tax relief delivered for Iowa’s cattle producers through the Working Families Tax Cuts. This progress reflects the strong advocacy of the National Cattlemen’s Beef Association working alongside Congress to deliver real results for producers,” said ICA president and Iowa cattle producer, Craig Moss.
Watch the press conference here.
