Abraham Introduces Legislation to Stimulate Agribusiness Growth

Press Release

WASHINGTON – Congressman Ralph Abraham, M.D., R-Alto, introduced legislation Thursday, Feb. 4, to advance sensible tax reform in an effort to stimulate agribusiness.

Dr. Abraham’s bill, the Fairness for Agricultural Machinery and Equipment (FAME) Act, will fix the tax code to shorten the depreciation schedule for farm equipment from seven years to five years. The change will bring the code more in line with the equipment’s useful economic life.

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