Congressional committees are continuing to work on their portions of the budget reconciliation process. The tentative deadline to complete the process is September 15. While it is unclear if the committees will meet their deadline, action on the reconciliation package is expected later in the month. Vice President of Washington Operations for the National Cotton Council, Reece Langley said there are still significant concerns related to some of the proposed tax policy changes.
“The National Cotton Council along with a number of other ag groups that we participate with in various collations are continuing to weigh-in with members of Congress and leadership,” Langley noted. “Expressing our concern about changes to stepped-up basis, capital gains tax rate, 1031 exchanges, or changes to the estate tax. We’ll continue to press those points moving forward through this process.”
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