In the last few hours, the House has narrowly passed the “Big, Beautiful Bill” Act that extends tax breaks and boosts farm programs.
The reconciliation bill was again debated all night, this time before the full House. It passed by just one vote and made the 2017 tax cuts permanent, a major request from farmers and ag groups. This includes adjustments to the estate tax exemption, and it also includes SNAP reform, increases crop insurance, and commodity program spending. House Ag Committee Chair GT Thompson says the bill stops tax hikes, reigns in spending, and invests in rural America.
The bill now moves to the Senate. Thompson says once this bill is settled, he is eager to get to work on the Farm Bill, which addresses several issues not included in the reconciliation package. Those include farm loan limits and rules, action on the local ag market program, nutrition assistance incentives, and other rural development programs. Thompson says the remaining issues in the Farm Bill are now much easier to tackle with the larger issues now out of the way.
