U.S. Senators Amy Klobuchar (D-MN) and Pat Roberts (R-KS) have introduced a legislative bill that will help farmers purchase new equipment for their work, according to an article from Minnesota Ag Connection.
The new bill would amend the U.S. tax code to set a permanent, five-year depreciation schedule for select agricultural equipment, instead of the current seven-year time period. Roberts commented on the bill: “This commonsense legislation will give farmers and ranchers the certainty they need to invest in new, more modern equipment so they can create more jobs and growth in our communities.”
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