Wisconsin Farm Bureau Federation: Dairy & livestock tax credit helps grow economy

Contact: Casey Langan, Director of Public Relations, 608-828-5711

MADISON – The Wisconsin Farm Bureau Federation applauds the Wisconsin State Senate for its passage of a bill that will help grow and modernize Wisconsin’s dairy and livestock industries.

Senate Bill 9 authored by State Senator Dan Kapanke (R-La Crosse) was passed by the State Senate on February 22. It extends the dairy and livestock modernization tax credit that was to expire at the end of 2011 through 2017. The income and franchise tax credit can be claimed on 10 percent of the amount paid for the construction, improvement and acquisition of buildings and facilities, or acquiring a variety of equipment used for dairy and livestock production.

“The Wisconsin Farm Bureau appreciates that this legislation will continue to provide an incentive for dairy and livestock farmers to invest in their facilities,” said Bill Bruins, Wisconsin Farm Bureau Federation President. “This investment generates an immediate economic impact for our state’s economy. Improvements to dairy farms help build the infrastructure for the industry that churns out nearly $26 billion in economic activity for Wisconsin annually.”

“During a time of volatility for the dairy and livestock industries, Wisconsin farm families can better plan for their future thanks to the continuity that passage of this bill ensures,” Bruins said. “We’re hoping this legislation that stimulates the economy and creates jobs is passed quickly by the State Assembly and signed into law by Governor Scott Walker.”