Source: SOUTHEAST FARM PRESS, 7/11/17

Sens. Roberts (R-Kan.), Klobuchar (D-Minn.) and Tester (D-Mont.) recently introduced the Agriculture Equipment and Machinery Depreciation Act (S. 1422) to help farmers purchase new equipment and replace worn-out machinery.
The bill would amend the U.S. tax code to permanently set a five-year depreciation schedule for certain agricultural equipment. The current tax code sets a seven-year depreciation cost recovery period for agricultural equipment.

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