The new tax law, passed by Congress late last year, creates problems in farm country. There is a discrepancy on taxation for those who sell to corporations, such as ADM and Cargill, versus those who are members of a cooperative. The past chair of the House Agriculture Committee says he thinks a fix is on the way, and encourages farmers to not change anything in their operations until this gets straightened out.
Congressman Frank Lucas (R-OK 3rd District) shepherded the current farm bill through a very complicated Congressional approval process. Lucas knows how the system works, so in his conversation with reporters last weekend, he gave his views on what may happen to the change in the tax code which favors those who use Section 199 and sell to co-ops.
*** Ron Hays with Rural Oklahoma Radio Network provided this interview.
