Congress has until December 18th or two weeks, to pass tax extenders important to agriculture.
The House earlier this year voted Section 179 expensing permanent, among other tax extenders, but the Senate Finance Committee has opted instead to revive the expired measures for 2015 and extend them through 2016, according to Agri-Pulse.
Finance Chairman Orrin Hatch, R-Utah, has said he’s optimistic that House leaders will come around to the two-year extension, but leadership has yet to make an indication.
Members are negotiating, according to House Majority Leader Kevin McCarthy.
Among the tax extenders yet to see approval by Congress, include section 179 expensing, the 50-percent bonus depreciation provision, and tax subsidies for biodiesel and wind power.
