More than 50 groups representing a wide scope of businesses sent a letter this week to Congress asking for approval of a multi-year extension of a series of expired tax credits. The groups attaching their names to the letter represent energy, agriculture, business, transportation, and real estate.
The groups, which include the American Farm Bureau and National Biodiesel Board, say those temporary tax provisions, which expired last year, represent a number of vital American industries and support thousands of jobs. The letter says extending those provisions allows businesses to make plans for the new year. Not extending the credits only creates confusion in the marketplace, which basically increases taxes on a number of industries that create a lot of jobs and promote economic growth. The letter was sent to leadership in the House and Senate, plus the leadership of the House Ways and Means Committee and Senate Finance Committee.
North Dakota Republican John Hoeven is the Chair of the Senate Finance Committee. He told Agri-Pulse that action on the bill will likely be delayed until early next year.
From the National Association of Farm Broadcasting News Service.