John Thune: “Our bill makes permanent the lower tax rates from the tax…”

“Madam President, this bill also enables farmers and ranchers to make critical investments in the future of their operations. Agriculture producers will benefit from the individual and small business tax relief in this bill. Our bill makes permanent the lower tax rates from the tax cuts and jobs act, increases the standard deduction and the child tax credit. and adds a bonus deduction for seniors, which means lower tax bills and permanently. And many farmers and ranchers will be able to claim the 199, a small business deduction, which frees up more cash for them to invest in their operations plus full expensing.” (03:27–03:36)

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