“As the House of Representatives prepares to consider the budget reconciliation bill, NCFC urges lawmakers to approve this legislation and deliver the certainty America’s farmers and cooperatives urgently need. This package includes several critical priorities that will strengthen the farm economy, improve global competitiveness, and ensure long-term viability in the face of continued market disruptions.
“We strongly support several key tax provisions championed by Chairman Jason Smith and the Ways & Means Committee, particularly the permanent extension of Section 199A. This provision is essential to ensuring that farmers and co-ops are not hit with higher taxes simply for doing business together. Alongside that, the extension of Section 179 expensing and the clean fuel production credit under Section 45Z will empower producers and their co-ops to invest in the future and continue driving rural innovation.
“In addition, we commend Chairman Thompson and the House Agriculture Committee for updating reference prices and commodity title payments—an overdue fix that reflects today’s cost realities on the farm. Doubling funding for market development programs is another timely move, helping open new export doors during a time of ongoing trade volatility.
“We urge the full House to act swiftly and decisively in passing this legislation. Doing so will provide farmers with the tools and certainty they need to succeed in an increasingly complex and competitive global food system.”
About NCFC
Since 1929, NCFC has been the voice of America’s farmer cooperatives. Our members are regional and national farmer cooperatives, which are in turn consist of nearly 2,000 local farmer cooperatives across the country. NCFC members also include 17 state and regional councils of cooperatives. Farmer cooperatives allow individual farmers the ability to own and lead organizations that are essential for continued competitiveness in both the domestic and international markets.
America’s farmer-owned cooperatives provide a comprehensive array of services for their members. These diverse organizations handle, process and market virtually every type of agricultural commodity. They also provide farmers with access to infrastructure necessary to manufacture, distribute and sell a variety of farm inputs. Additionally, they provide credit and related financial services, including export financing.
