NCBA Update: Corporate Transparency Act on Hold and Disaster Tax Bill Passes Senate

Beltway Beef

On this episode, NCBA Executive Director of Government Affairs Kent Bacus joins to provide an update on the preliminary injunction that has temporarily halted filing requirements under the Corporate Transparency Act and disaster tax legislation that recently passed the Senate. The Corporate Transparency Act has raised concerns for cattle producers due to complex filing requirements and high penalties. Bacus also discusses the passage of the Federal Disaster Tax Relief Act, which was strongly supported by NCBA. The bill reduces taxes on disaster relief payments and helps cattle producers recover from challenging conditions.