As the U.S. House of Representatives narrowly approved changes to the tax code last week and the Senate considers the measure, the cooperative community is monitoring how the tax overhaul could affect member-owners of the nation’s 40,000 cooperative businesses. The legislation includes cuts to corporate taxes and changes the way other income and expenses are treated.
NCBA CLUSA this week submitted a letter to the House and Senate Committees on Agriculture, urging lawmakers to preserve programs that benefit cooperative enterprise as they begin consideration of the 2018 Farm Bill.
With House Republicans expected to reveal their tax plan on Wednesday, NCBA CLUSA this week released a statement urging Congress to uphold tax policy favorable to the nation’s 40,000 cooperative businesses that support families, small businesses and farmers.
A resolution commending cooperatives as integral to sustainable economic growth is the latest effort by members of NCBA CLUSA’s Congressional Cooperative Business Caucus to spotlight the scope, impact and potential of the cooperative business model before lawmakers.
NCBA CLUSA is pleased to report that the U.S. Small Business Administration is eliminating a regulation that has blocked food cooperatives from accessing its lending programs for more than 50 years.