The U.S. House yesterday passed two Ag Committee bills, the Mandatory Price Reporting Act and the Veterinary Services Investment Act.
The Mandatory Price Reporting Act of 2010 reauthorizes mandatory price reporting programs run by USDA for five years. The act requires livestock sales information to be reported and published in a timely fashion, allowing buyers and sellers to make more informed decisions. The Senate earlier approved this bill so it now moves to the president’s desk for his signature.
The Veterinary Services Investment Act would establish a competitive grant program at USDA to support efforts to increase access to veterinary care in underserved areas. This bill now moves to the Senate for consideration.
Farm Bureau supported passage of both bills. Read the House Ag Committee news release for more information.
The Senate is expected to vote on H.R. 5297, the Small Business Jobs Act, today. An amendment offered by Sen. Chuck Grassley (R-Iowa) to extend tax incentives for biodiesel and renewable biodiesel for one year, through 2010, also will be considered.
In addition to biodiesel tax incentives, the bill includes several provisions beneficial to farmers and ranchers. This includes an increase in the allowed amount for Section 179 expensing when filing income taxes, extension of bonus depreciation and the ability to deduct health insurance premiums against the self-employment tax.