There is now less than a month until the end of the year and Senator Charles Grassley says there is still legislation to be passed in Washington, D.C. Grassley says the spending for the rest of the fiscal year and through September should be figured out. He states tax legislation also needs to be addressed. Grassley explains that a delay in tax legislation could impact citizens and when they’re able to file their taxes this spring.

He adds this could greatly impact agriculture entities, in particular section 179 which deals with depreciated equipment. Currently, the measure allows expense depreciated equipment in one year up to $500,000 but it will fall back to $25,000 if no action is taken.

For the full interview with Grassley listen to today’s Washington Page.