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.
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The House Agriculture Committee is set to debate a new, “skinny” Farm Bill at the end of February, according to a release from Committee Chairman Rep. Glenn “GT” Thompson.
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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.
