Source: REUTERS, 3/13/18

U.S. lawmakers said on Tuesday they agreed to revise a portion of the new tax code that gave farmers a massive tax break for selling crops to cooperatives, in a win for private grain firms that were disadvantaged by the overhaul. The agreement, which lawmakers have been scrambling to reach for months, aims to replicate tax benefits that were available to farmer-owned co-ops that existed before Congress passed the tax law in December 2017, according to a summary of the agreement released by Republican senators from farm states. 

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