Herb Kohl: “I rise today as a co-author of this important legislation, which Senator Jeffords and I, and many others, introduce…”

“I rise today as a co-author of this important legislation, which Senator Jeffords and I, and many others, introduce today on behalf of all of our nation's farmers. Let me begin by thanking my colleague from Vermont for his help and leadership on this issue. The economic health of our agricultural economy is paramount to both of our regions, and to the country at large. And tax provisions related to agriculture, whether it be the earned income credit [EIC] or other provisions, have repercussions throughout our agricultural economy. In the two regions that Senator Jeffords and I represent, dairy farming is of particular importance. And it is with our dairy farmers in mind that we feel an urgency in introducing this legislation. Because while the tax policy change that we are seeking to undo affects many livestock producers, it is the dairy farmers who are the hardest hit. Mr. President, our legislation will clarify that the sale of livestock should not be treated as capital gain net income for purposes of the EIC.”