Tax law gives unexpected break to farmers who sell to co-ops
January 19, 2018
MINNEAPOLIS (AP) — Key senators and farm groups are trying to fix a provision in the federal tax overhaul that gave an unexpected tax break to farmers who sell their crops to cooperatives rather than regular companies.
Lawmakers say they didn't intend to give a competitive advantage to co-ops. But it's not clear they can rework the legislation given the partisan divide on Capitol Hill. That means many companies — from local grain companies to agribusiness giants such as Cargill and ADM — could wind up paying more for crops than co-ops.
The provision from GOP Sens. John Thune of South...