House passes the “Big, Beautiful Bill” by one vote

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.

Related Stories
In a statement provided to RFD-TV News, a USDA spokesperson reiterated President Trump and the USDA’s commitment to farmers in difficult economic times.
China is not one of our top suppliers of cooking oil, according to USDA ERS data, but does export a lot of used cooking oil to the U.S. for biofuel production.
Lewis Williamson with HTS Commodities joined RFD-TV’s Market Day Report to share insight into what’s happening on the ground and in the markets.
A new proposal from the Federal Aviation Administration (FAA) could transform how farmers use drones, allowing commercial operators to fly beyond their visual line of sight.
“USDA can no longer keep wasting its time and personnel to deploy Commissioner Miller’s infamous traps, which USDA has deployed, tested, and has proven ineffective.”
Expect choppier basis and wider bids — hedge earlier, keep logistics flexible, and watch Argentina and India headlines for near-term opportunities.

LATEST STORIES BY THIS AUTHOR:

Cattle markets are watching the Cattle-on-Feed Report for signs of tighter supplies, while USMEF warns limited China access is cutting producer profits.
USDA Undersecretary Luke Lindberg outlines the Farm Bridge Assistance Program and responds to calls from lawmakers and ag leaders for more assistance and expanded trade opportunities for farmers.
Callahan is no stranger to agricultural trade and has been with the U.S. Trade Representative’s office since 2016.
The Pet and Livestock Protection Act now moves to the Senate for consideration.