President Donald Trump is back in Washington, where his 2017 tax cuts are one step closer to becoming permanent. The Senate Finance Committee has released details of its work on the “Big, Beautiful Bill.”
The Committee’s plan would extend the 45Z tax credit, and it would also keep the Section 199A at 20 percent and make it permanent. The Senate plan increases the estate tax exemption to $15 million or $30 million for a couple.
Their plan mirrors the House version when it comes to depreciation and would restore the full bonus depreciation.
Related Stories
The biggest development of 2025 in agricultural law and taxation was the signing into law on July 4 of the Trump Administration’s landmark legislation, the “One Big Beautiful Bill” Act (OBBBA)
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.
Champions of Rural America: Iowa Congressman Outlines ‘Big, Beautiful Bill’ Benefits for Agriculture
Rep. Randy Feenstra, R-IA, details how the “One, Big, Beautiful Bill” Act (OBBBA) supports farmers, biofuels, and rural communities with tax breaks, crop insurance relief, and ag infrastructure.
The new rule removes prevented-plant buy-up coverage, prompting strong objections from farm groups concerned about added risk exposure.
Lawmakers and experts react to the Administration’s long-awaited announcement of “bridge” aid to stabilize farms and offset 2025 losses until expanded safety-net programs begin in 2026.
Rep. Michelle Fischbach shares her appreciation for rural communities and outlines how the Working Families Tax Cut is aimed to support farm families on RFD-TV’s Champions of Rural America.
Row crop losses in 2025 are outpacing last year. With no disaster aid yet approved, many operations face a tough financial bridge to 2026 even as Farm Bill improvements remain a year away.
Farm CPA Paul Neiffer shares insight into what these new accounts, established in provisions of the Big, Beautiful Bill, could mean for the farm families.
RFD-TV expert Roger McEowen explains why a “skinny” Farm Bill is likely in the future, but its scope may change due to provisions contained in the Big, Beautiful Bill.
