WASHINGTON — Individual tax code reform is essential for farmers and ranchers, the American Farm Bureau Federation said today in a statement submitted to the House Small Business Committee. According to AFBF, tax reform must be simple, transparent, revenue-neutral and fair to farmers and ranchers.
"Any tax reform proposal considered by Congress must be comprehensive and include individual tax reform," AFBF stated. "More than 96 percent of farms and 75 percent of farm sales are taxed under IRS (Internal Revenue Service) provisions for individual taxpayers."
Although broadening the tax base and lowering the rate are important parts of tax reform. . .