Several ag groups scored a big win over the long weekend as Congress met their deadline for the “Big, Beautiful Bill,” with President Trump signing it into law on Independence Day.
It was touch-and-go for a large portion of last week, with lawmakers scrambling to make deals as the clock ticked down. The Farm Bureau had long backed the bill, and the group says engaging with lawmakers made all the difference.
“They described the current agricultural economy, the toll of extreme weather events that they’ve seen as of late, and the ongoing challenges of keeping farms in the family. First-hand accounts remind lawmakers just how important it is to ensure that there is support for farm and ranch families in this legislation,” said the Farm Bureau’s Emily Buckman.
Other ag groups are also celebrating the bill’s passage. The National Pork Producers Council thanked both congressional ag committees for their work on the bill. They say several key areas were addressed, like foreign animal disease prevention, as well as maintaining market access for U.S. pork, which includes $286 million for a supplemental ag trade promotion program.
NCBA is also weighing in, saying the tax breaks in the bill will help keep farmers on the job. Some provisions include an increase to the death tax exemption at $15 million per individual and $30 million per couple. Farmers can save on equipment as well as the bill will allow farmers and ranchers to deduct up to $2.5 million in equipment expenses.
Secretary Rollins also met with specialty crop producers at a local strawberry farm to discuss workforce needs and the Trump Administration’s recent wins related to significantly cutting the cost of H-2A labor for California farmers.
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RFD-TV tax expert Roger McEowen discusses the renewed tax provision and how cattle producers can take advantage of it to recover investments in heifer retention and herd expansion more quickly.
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