The House Rules Committee held a rare overnight hearing, beginning at 1:00 AM this morning, and it is still going on. They are debating President Trump’s “Big, Beautiful Bill.”
House Ag Committee leadership was there, with Chair GT Thompson explaining cost savings in his budget.
“The Agriculture Committee was tasked with $230 billion in net deficit reduction, and I’m proud of our product, and I’m proud to report that we exceeded our instructions. These savings are achieved through necessary changes to restore integrity to the SNAP program, and preserve the program’s ability to serve the most vulnerable long into the future.”
Ranking Member Angie Craig expressed her disappointment in the President’s bill and the required cost savings around SNAP.
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The ACRE Act modestly reduces farmland borrowing costs now, with more savings possible once federal guidance clarifies which loans qualify.
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ARC-CO delivers the bulk of 2024 support, offering key margin relief as producers manage tight operating conditions.
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Higher menu prices and tax-free tips are reshaping restaurant economics, sharply lifting server take-home pay even as diners face higher out-the-door costs.
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U.S. Trade officials announced new deals with El Salvador, Guatemala, Ecuador, and Argentina, as well as a steep reduction in tariffs on Swiss imports.
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