The House passed The Jobs for America Act (H.R. 4) by a vote of 253 to 163. Bob McCan, National Cattlemen’s Beef Association president and Victoria, Texas, cattleman said this was a positive move for cattle producers and a solid step toward stabilizing the economy.
“The Jobs bill passed by the House contains a number of priorities for our producer members including some key tax provisions,” said McCan. “The passage of this legislation brings our producers one step closer to having the certainty they need to make financial preparations and needed investments in this tax year.”
Included in the Act is the America’s Small Business Tax Relief Act and other provisions directed toward the Internal Revenue Service, which makes section 179 expensing and bonus depreciation permanent. The bill also contains the Regulations From the Executive in Need of Scrutiny Act, requiring Congress to take an up-or-down vote on all new major rules that would have an economic impact of more than $100 million annually before they can be enforced. And critical for many public lands and western ranchers is the inclusion of the Restoring Healthy Forests for Healthy Communities Act addressing catastrophic wildfire and forest mismanagement.
“Many of the provisions contained in this bill are critical for the cattle industry; legislation that extends certainty in the tax code, reins in the regulatory train wreck our members face from administration agencies like the EPA and aims to better manage our public lands and resources,” said McCan. “We appreciate the efforts of the House in bringing this bill to the floor and urge the Senate to take action.”
The full Jobs Bill and more information can be found here.