Stabenow: Section 179 Vote Likely in the Next Few Days

December 12, 2014 02:42 PM
Stabenow: Section 179 Vote Likely in the Next Few Days

Farmers who want to know whether they’ll be able to deduct $25,000 or $500,000 on their latest machinery purchase in 2014 will have to sit tight for a few more days.

According to Senator Debbie Stabenow (D-Mich.), the Senate is still working through other votes and will probably be in session this weekend and into next week. The vote to retroactively extend the Section 179 deduction will likely happen “sometime in the next few days,” she said Thursday, during an interview at the Farm Journal Forum in Washington, D.C.

Listen to Senator Stabenow’s full comments on the tax extender bill here.

She says she’d like to “resurrect” the two-year extension of the policy. “The House has sent us a one-year essentially retroactive bill, which I think makes absolutely no sense, because the whole idea of these tax incentives on investing in research and so on is to support business decisions, and business decisions have already been made for 2014.”

But Stabenow acknowledges that the two-year extension is unlikely to happen at this point.



Back to news



Spell Check

Pauls Valley, OK
12/13/2014 03:31 PM

  To answer D's question, congress does not know how businesses run. They are in the own little world in DC making rules and regulations that they don't have to live by. They are so far removed from small business and production agriculture that they consistently miss the mark in trying to legislate. A friend of mine put it beat this morning: My wife and I cannot come to and agreement in out household budget. If we do not agree to increase our budget beyond what we can mange, we will not be able to give as much away. With no agreement by tomorrow (we ran out of money yesterday), we will have to drop mortgage, commuting expenses, car payments, and security company fees so we can continue to contribute to the bum beside the interstate. Yes this is exactly how silly our congress is. Don't be mad at them. Unless you voted! Definition of insanity?? Doing the same thing over and over and expecting different results. It's time to clean house. Fire them all and start over.

clinton, MO
12/15/2014 05:20 AM


Hillsboro, KS
12/15/2014 05:57 PM

  Sell grain to buy equipment. Sec 179 is needed now to make both happen and dealerships are wanting sales in 2014.


Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by
Brought to you by Beyer