Cathy McMorris Rodgers says one of the big winners during the first year of the Trump administration is the country’s farmers and ranchers. The Eastern Washington Republican said the White House has taken several steps to cut red tape, allowing producers to grow the food and fiber we all consume. One example she pointed to, the recent repeal of WOTUS.
“This was regulations coming out of EPA that would bascily regulate every mud puddle in eastern Washington and it was excessive. The Trump administration has repealed 16 regulations for every new one.”
McMorris Rodgers told the Washington Ag Network by cutting the red tape local business, farmers can make the needed decisions. She adds farmers will see benefits from the new tax law enacted in late 2017.
“Overall, tax rates are coming down. It’s immediate expensing for the first five years, so that means if they are purchasing new equipment, they enjoy full expensing which makes a big difference. It provides them 20% deduction on the first $315,000 of income.”
McMorris Rogers said nationwide, small businesses are enjoying the lowest tax rate since World War II.
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