In addition to the extension, the bill reinstates 50 percent bonus depreciation, which allows for capital purchases of any size to be depreciated 50 percent in the first year.  Though the extension leaves long-term tax issues unresolved, Hoeven said, "the short-term solution will allow farmers and other small businesses to expense and depreciate property they have purchased or repaired for their operations."

 

Louisiana rice producer and USA Rice Producers' Group Chairman John Owen emphasized how important the extension is not just to farmers, but to rural communities. 

 

"Section 179 is hugely important to small business owners and is a big boost to rural communities.  The $500,000 limit encourages farmers to invest in machinery and improve their operating efficiency, which results in improvements to rural infrastructure that are key to keeping small businesses strong," Owen said.

 

Contact:  Evan Spencer (703) 236-1476

Senator Pat Roberts (R-KS)

WASHINGTON, DC -- This week, Senate and House Majority leadership announced assignments to the House and Senate Committees on Agriculture.

 

Republicans who will accompany incoming Chairman Pat Roberts (R-KS) on the Senate Agriculture Committee include:  John Boozman of Arkansas, Thad Cochran of Mississippi, Joni Ernst of Iowa, Chuck Grassley of Iowa, John Hoeven of North Dakota, Mitch McConnell of Kentucky, David Perdue of Georgia, Ben Sasse of Nebraska, John Thune of South Dakota, and Thom Tillis of North Carolina. 

 

The Senate Agriculture Committee will lose two democrat seats as a result of the new majority.  The two Senators not returning to the Committee are Tom Harkin of Iowa who is retiring and John Walsh of Montana who dropped out of the general election.

 

Representative Mike Conaway (R-TX)

Incoming House Agriculture Committee Chairman Michael Conaway (R-TX) announced eight new Republican members:  Jackie Walorski of Indiana, Ralph Abraham of Louisiana, Rick Allen of Georgia, Mike Bost of Illinois, Tom Emmer of Minnesota, John Moolenaar of Michigan, Dan Newhouse of Washington, and David Rouzer of North Carolina.

 

"USA Rice has a strong history with Senators Boozman and Cochran, and with Representative Conaway," said Ben Mosely, USA Rice Federation vice president of government affairs.  "We look forward to working with them to help educate new members of the committees on issues important to rice producers across the country."

 

Contact:  Evan Spencer (703) 236-1476

 

The delegation leader, Mr. Bin Ke, Yunnan Province Department of Agriculture Division Director, explained he saw the visit as an opportunity to learn more about U.S. agriculture and to establish an international information exchange on new developments in the agricultural commodity industry, particularly regarding risk management and government-subsidized safety net measures.

 

"The questions were frank and the discussion lively," said Jim Guinn, USA Rice's vice president of international promotion.  "The department chose USA Rice because we represent and advocate for the interests of the entire U.S. rice industry.  We were happy to start this relationship off on a positive and collaborative note."

 

Yunnan Province is located in southwestern China and has a population of more than 45 million.

 

Contact:  Michael Klein (703) 236-1458

WASHINGTON, DC -- Net rice sales of 78,000 MT for 2014/2015 were down 10 percent from the previous week and 7 percent from the prior four-week average, according to today's Export Sales Highlights report.  Increases were reported for Japan (24,000 MT), Mexico (13,300 MT), Haiti (9,500 MT), Panama (9,500 MT), and Canada (4,500 MT). 

Exports of 39,500 MT were down 64 percent from the previous week and 50 percent from the prior four-week average.  The primary destinations were Mexico (16,700 MT), Japan (12,000 MT), Canada (3,100 MT), Honduras (2,100 MT), and Saudi Arabia (1,700 MT).

This summary is based on reports from exporters from the period December 5-11.