Political Quotes

“Mr. President, I rise to discuss the positive impact the Tax Cuts and Jobs Act will have on Iowa farmers. Of course, our Iowa agricultural economy is really important, and those men and women who are serving as farmers, ranchers, and growers in the State of Iowa mean the world to me, coming from a farm my family had in Southwest Iowa. We all understand this has been a very challenging time for farmers in our rural communities. The community I come from in Southwest Iowa has just 10,000 people in our county. Many of them have faced the challenges of the economic downturn. Since their peaks in 2012, corn prices have declined by 60 percent and soybean prices have declined by 47 percent. My neighbors are hurting, folks. Farm income has nearly been cut in half since 2013. A lot of our producers are hurting, especially our young and beginning farmers who have gotten their start just in maybe the last 10 years or so, but, fortunately for our farmers, our ranchers, and our growers, tax relief is on its way. The Tax Cuts and Jobs Act will provide sweeping tax cuts for farmers and rural communities, allowing our producers to keep more of those hard-earned dollars. About 95 percent of farms are organized as passthrough businesses, such as sole proprietorships, partnerships, and S corps. These businesses are taxed under individual tax rules and will benefit from lower tax rates for every income bracket.…”