Hoeven-thune Amendment Fixes Tax Provision For Cooperatives

Press Release

Senator John Hoeven (R-N.D.) announced that his amendment to maintain the fair tax treatment of cooperatives, which he authored with Senator John Thune (R-S.D.), has been included in the conference committee's final tax relief package. The elimination of Section 199 in Congress' draft tax bills presented a significant problem for cooperatives, threatening to increase their taxes and leading to higher costs for their members. The Hoeven-Thune language included in the final bill fixes this provision, ensuring cooperatives in North Dakota and across the nation will benefit from Congress' tax relief legislation.

"We worked hard to ensure the final tax relief legislation provided certainty for cooperatives and treated them fairly," Hoeven said. "Cooperatives provide vital services for our communities and agriculture producers and fill an important role in our economy. I appreciate Senator Thune, as well as our colleagues in the Senate and the House, for working with us to secure this important provision for our cooperatives. I look forward to advancing this and the rest of our tax relief legislation to help grow our economy and benefit middle-class Americans, workers, small businesses, farmers and ranchers."

Congressman Kevin Cramer (R-N.D.) worked to gather support for the Hoeven amendment in the House of Representatives, along with Congresswoman Kristi Noem (R-S.D.) and Chairman of the House Committee on Agriculture, Mike Conaway (R-Texas). Other cosponsors of Hoeven's amendment in the Senate included Senators Cory Gardner (R-Colo.), John Boozman (R-Ark.), Joni Ernst (R-Iowa), Roy Blunt (R-Mo.), James Risch (R-Idaho), Mike Rounds (R-S.D.), Jerry Moran (R-Kan.), Tom Cotton (R-Ark.) and Steve Daines (R-Mont.).

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