Trump Tax Bill Will Help Farmers In Multiple Ways Ag Chair Notes

House Ag Chair GT Thompson said last week the Trump Tax Bill now headed to the Senate will finally shore up the farm safety net.  While most of last week’s House debate on the president’s “One Big Beautiful Bill” focused on SNAP and Medicaid savings opposed by Democrats, Thompson highlighted the bill’s improved farm safety net.

“The One Big Beautiful Bill makes permanent and expands the Trump tax cuts. It also prevents the ‘death tax’ from hitting over two million family farms, and locks in the small business deduction, helping 98% of American farms stay afloat.”

Reconciliation Addresses Interest, Chair Notes

And there are other farm-related tax breaks.

“It expands immediate expensing, so farmers can expense the tools that they use today to secure the harvests of tomorrow," Thompson said.  "It protects domestic biofuels from being crowded out by Chinese imports. It lowers the cost of borrowing for our farmers, hit by Biden’s sky-high interest. It reduces regulatory burdens on small farmers hiring seasonal workers.”

Thompson said the bill “secures” the farm safety net and delivers accountability to SNAP by shifting some costs to the states, especially those with high payment error rates.  Democrats, prevented by budget rules from filibustering the bill, complain it will kick millions of needy people off SNAP.

"Big Beautiful Bill" Has Further To Go

But the bill could face changes to SNAP and Medicaid reforms in the Senate where GOP budget hawks and moderate Republicans will also fight each other for concessions.  Those changes could complicate final passage when the bill returns to the House.

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