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Article: Milk producers concerned about possible changes to tax code in new farm bill.
- Article from:
- Food & Drink Weekly
- Article date:
- April 28, 2008
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Senators who seek to reform domestic farm policy proposed last week to amend the tax laws in order to minimize government payments to the largest farmers, but lobbyists for dairy farmers said that the change would inadvertently penalize milk producers.
The changes proposed for Schedule F of the Internal Revenue Code "could have a devastating effect on the dairy industry," said Congressman Dennis Cardoza, a Democrat who represents central California's dairy farm region.
The proposal was offered to the House-Senate conference committee negotiating a new farm bill as a means of raising $456 million over five years.
It would close what Senator ...