Rounds Statement on Section 199A of Tax Code

WASHINGTON—U.S. Sen. Mike Rounds (R-S.D.) today made the following statement regarding ongoing efforts to address concerns related to Section 199A of the tax code:

“The inclusion of Section 199A in the tax law was always to maintain the status quo for the agricultural sector. It has come to our attention that some producers are concerned that the law, as written in the new tax code, gives an unfair advantage to cooperatives over independent operators. This was never the intent and I am pleased there is widespread support among producers and Congress to address this concern. We have been working with our colleagues and stakeholders from both sides on a legislative fix. Those conversations have been productive and we look forward to finding a solution in a timely manner.”