House Passes Farmers' Tax and Loan Incentives

1 decade 3 years 6 months ago Thursday, April 06 2006 Apr 6, 2006 Thursday, April 06, 2006 7:12:16 PM CDT April 06, 2006 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
Republican House Member Tom Loehner of Koeltztown says the incentives will spur more people into farming while allowing existing farmers to increase their output. The bill was approved today without dissent. It would waive the first year's interest payments for a loan to buy more livestock and offer a tax credit for how much the farmer would have had to pay for interest. Farmers would be able to get the loans only once, and only those who bring in less than $250,000 per year or less would be eligible.

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