Lets discuss pros and cons as it relates to tax eect.

With reference to the

Exhibit 8.4 on pp 8-32, if we compare the depreciation schedules for 5 years
with 7 years, it starts from 20% and goes to 32% compared to 7 years where it
starts from 14.29% and goes to 24.49% and so forth. That means farmers who
are making enough profits selling their crops can take advantage of this change
in depreciation schedule with quick write-os. They can buy and use modern
machines on their farms. On the other hand, it will certainly benefit equipment
manufacturer as it will bolster farm equipment sales. However, impact of such a
bill will not have huge immediate impact as farmers are already taking big
incentive in terms of Section 179, which allows them to deduct 100% of the
purchase prices with immediate eect, or their use of bonus depreciation.
Compared to these big incentives, changing the schedule from 7 to 5 years is a
minor one from a standpoint of a agricultural commodity which has already
narrowing profit margins.