A tractor pulls a grain cart through an elevator in central Iowa.
Congress is close to righting an inadvertent wrong, according to Sen. Chuck Grassley (R-Iowa). At issue is a provision in the tax reform bill passed late last year that favors cooperatively-owned businesses, including many grain elevators.
“It’s quite obvious Congress would never adopt a tax policy that would put a competitor out of business,” Grassley says, and yet the changes to what’s called Section 199A have the potential to devastate privately-held grain elevators because they give farmers a financial incentive to sell their grain to a coop instead.
Grassley says he’s exasperated that after a month of trying he hasn’t nailed down a fix.
Grassley says he expects the omnibus appropriations bill coming up next month to contain language reverting the provision to what it was before the tax reform bill, and he’s hopeful it will make the fix retroactive to when the tax bill was passed.
Iowa’s senior senator says shouldering most of the cost of President Trump’s infrastructure plan will be challenging for states. But, Republican Chuck Grassley says crumbling bridges and unreliable locks and dams are an impediment to Iowa’s economy.
Iowa Republican U.S. Senator Chuck Grassley has been….in his words…..dropped from the conference committee charged with writing a final version of the giant tax cut bills which have passed the U.S. House and Senate.
Grassley is the current senior ranking member and past chair of the Senate Finance Committee.
President Donald Trump delivers his State of the Union Address Tuesday and the nation’s roads, bridges, rails and rivers will be on many people’s minds in the Midwest.
Trump has said he’s committed to improving the country’s infrastructure and now Mike Steenhoek, director of the Soy Transportation Coalition in Ankeny, wants to hear some specifics. Steenhoek says it’s an issue that cuts across many industries and speaks to people in all corners of the country.