Cooperative Network Looks Forward to Continuation of Dairy Tax Credit
MADISON, Wis. (January 27, 2010) – In his eighth and final State of the State address Tuesday night Governor Jim Doyle outlined priorities, including extension of the expired dairy modernization tax credit for farmers and creating a food processing modernization tax credit. The credits are aimed at encouraging continued growth of Wisconsin’s agricultural economy, and are nearly identical to legislation previously championed by Cooperative Network.
“With milk prices rebounding from record lows, these tax credits will help farmers position their businesses for future growth as the economy turns around,” said Doyle.
“Due to expire this year, this tax credit allowed the Wisconsin dairy industry to reach record levels of production in 2009,” said Bill Oemichen, Cooperative Network president and CEO. “Now that Governor Doyle has committed to continuing this program, Wisconsin dairy producers can compete more effectively with other regions of the country.”
“Cooperative Network is proud to have worked on this issue for its dairy members since its inception,” said Oemichen. “Seeing it remain a priority for our elected officials is gratifying.”
Doyle did not detail how he plans to fund the extension of this tax credit in his State of the State address, and details were not yet available from the Department of Agriculture, Trade and Consumer Protection.
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