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Omnibus does not include 199A fix, Grassley says

Iowa Senator Chuck Grassley says, at last report, a fix to the 199A tax provision was not part of the omnibus budget bill.

“As of last night (Monday), it didn’t include the 199 fix, unless something was done after 6:15 last night,” Grassley says.

Details of the omnibus bill have not yet been released, but Politico reports that some Senate Democrats won’t support the 199A fix unless the omnibus also expands a low-income housing tax credit—something Republican leaders refuse to do.

Grassley says he’s not giving up on getting the fix included.

“Because this is very important we don’t put private elevator people in Iowa out of business—and that probably would be happening under the mistake the Senate made when we wrote 199A.”

The 199A provision gives farmers a tax incentive to sell their products to co-ops over other types of businesses.

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