Dec. 3, 2017 – -Across the nation, all eyes are on Congress and the Republican push for tax reform. The overhaul promises to bring simplicity and tax relief to Americans, but at risk for the CA Almond Industry is the elimination two key tax tools utilized by many of you- the Interest Charge Domestic International Sales Corporations (IC-DISC) and Section 199 of the federal tax code. These provisions were created to encourage U.S. manufactured exports and address the trade deficit. The savings provides growers the opportunity to reinvest funds back into their businesses and is a major driver for agribusiness dependent communities.
Two weeks ago, without warning, the U.S. Senate proposal eliminated both sections, while the U.S. House of Representatives version retained the IC-DISC. The Almond Alliance jumped into action and worked overtime to directly lobby our congressional reps, through meetings with staff locally and in D.C., coalition building with specialty crops across the country, and forcing legislators’ attention by way of the media:
Our aggressive advocacy landed a major success- late Saturday night the Senate adopted an amendment to save IC-DISC. The next step is for the Senate and House to conference to reconcile the other differences in their versions. While we remain hopeful that a favorable deal will be reached, we are vigilant in our advocacy to protect our interests, continue to push for Section 199 and ensure that IC-DISC doesn’t become a bargaining chip lost in a larger political trade.
Take action with two steps:
First, call your congressional representative and voice your support for IC-DISC and Section 199 https://www.house.gov/representatives/find-your-representative.
Secondly, donate to the Almond Alliance PAC https://almondalliance.org/goverment-affairs/almond-pac/how-to-donate/ to support the critical work we do to protect our industry from back door deals.
Contact Andrea York, Manager of Government Relations, for further information firstname.lastname@example.org