Time is running out for Congress to finalize the reconciliation package, otherwise known as President Trump’s “Big, Beautiful Bill,” which still rests with the Senate. There was debate over the weekend, with some key changes impacting farmers and rural communities.
One of the changes includes the 45Z tax credit. Like the House version, the Senate plan limits those feedstocks to those grown in North America, and it also reduces the credit extension to two years. There is also support for rural health care in their bill.
Senate lawmakers are aiming to create a $25 billion fund for rural hospitals. States would have to develop plans for expanding rural hospitals in their state in order to get a share of that pot.
More debate is expected today in the Senate, but over in the House, Speaker Mike Johnson has told his team to be ready to return to Washington.
“So, if the Senate does its work on the timeline we expect, we will do our work as well. And I think everybody’s ready for that. We worked out the final details. They would get that passed, maybe by Friday, Saturday, and I’ve told our members - we’ve just had the big Republican conference meeting, the weekly meeting - and I’ve said keep your schedules flexible.”
The Senate parliamentarian has struck down some provisions in recent days, leaving lawmakers to find workarounds. Congress has given itself a Friday deadline, just in time for Independence Day. President Trump has said lawmakers should delay their vacations until the bill lands on his desk.
Understanding how these tax provisions interact will be key for farmers planning long-term equipment purchases or transfers within the family.
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