Texas produce

Regarding “House budget blueprint key to success of Trump tax agenda” (HoustonChronicle.com, Wednesday), meaningful tax reform shouldn’t include repeal of the “interest deduction” for businesses. The 3.2 million farmers who generate food, fuel and fiber for Americans and people around the world rely heavily on debt financing to keep their farms running and expand their operations.

As the president and CEO of a diverse group of growers, farmers, shippers, importers, distributors, and material and service providers, I can say with full confidence that the elimination of this tax tool would stifle agricultural expansion. The deduction of interest grants farmers and agricultural businesses of all sizes access to the funding they need, while allowing them to retain equity.

Congress should not eliminate this essential business tool. Simply put, the deduction of interest drives economic growth, and eliminating it would be, in actuality a tax hike — one that could seriously jeopardize agriculture in the valley, across our great state and throughout the nation.

As Congress works to enact comprehensive tax legislation, positive reforms should not be undermined by the negative, unintended consequences of eliminating the business interest deduction for agricultural entities.

We hope that future legislative proposals take into account the importance of this deduction to the agricultural sector.

Dante Galeazzi, president & CEO, Texas International Produce Association, Mission.