House Provides a Fix for the “Grain Glitch” with Passage of the Omnibus Spending Bill
Posted on Mar 23, 2018 in News
Today, Congress approved an omnibus spending bill, a step toward averting a government shutdown that would otherwise occur this evening. The bill includes a fix to the so-called “grain glitch,” which addresses a technical error in the Tax Cuts and Jobs Act that allows farmers who sell grain to cooperatives to have a lower tax liability than those who sell to other purchasers. In exchange for rewriting the provision, Democrats in Congress negotiated an increase to the amount of the Low-Income Housing Tax Credit. The bill now heads to President Trump for his signature.
Read more: What’s Included in Congress’ $1.3 Trillion Spending Bill?; Trump Threatens to Veto Spending Bill, Raising Government Shutdown Risk