The American Farm Bureau Federation (AFBF), along with other agriculture groups, cheered last week’s passage by the U.S. House of Representatives of a tax reform package that contains significant benefits for farmers.

“Passage of the Tax Cuts and Jobs Act (H.R. 1) by the House of Representatives puts us one step closer to a tax code that works for all farmers and ranchers,” said Zippy Duvall, AFBF president. “Lower rates combined with the preservation of small business expensing, like-kind exchanges and ...