(NAFB) The U.S. Senate, in a huge win for agriculture, has passed the president’s tax bill with key farm program updates and sent it to the House, keeping alive prospects for final approval.
With Vice President JD Vance’s vote and nearly two days of reading, debating, and amending the Big Beautiful Bill, the measure now heads to the House.
The measure included a boost to outdated reference prices, improved crop insurance coverage, help for livestock producers, and support for key export programs like MAP and FMD. On the tax side, there’s the immediate expensing of farm equipment, a small business tax break, an increase in the estate tax exemption, and an improved 45Z Clean Fuel credit.
Passage was a huge win for Senate Majority Leader John Thune.
No Democrats voted for the bill that also boosts defense and border security. Three Republicans voted ‘no,’ citing Medicaid cuts or the bill’s deficit spending and borrowing limit increase.
The House GOP, with similar splits and objections to Senate changes, now faces a ‘do or die’ moment to get the president’s core agenda bill and its big wins for farmers to his desk by Independence Day.
