U.S. Senator Kay Bailey Hutchison briefed delegates to the Texas Farm Bureau's annual convention on federal agriculture policy trends and the outlook for expanding American access to international markets. China will slash tariffs on agricultural goods, allow the entry of more U.S. wheat, corn, rice and cotton and eliminate its own subsidies for exports.
Research is critical to the Texas agriculture community.
Finally, she described several tax provisions aimed at agriculture that have been signed into law, including 100 percent deductibility for health care premiums for the self-employed and making income averaging' a permanent part of the tax code. Unfortunately, President Clinton vetoed this bill. But you can be sure we will be back next session with another attempt to overcome President Clinton's opposition to this much-needed tax cut.