The One Big Beautiful Bill Act that was signed into law July 4 is indeed big, but just how beautiful it may be depends largely on where you sit.
What stood out to us is that farmers and ranchers gained some valuable economic support from the bill.
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Without getting lost in the tall, tall weeds of legislative language, let’s look at some of the top-line elements of the OBBB.
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- OBBB increases basic commodity support rates through higher “reference prices” and commodity loan rates. This means that the government pays the farm when crop prices fall below a certain level. …
- Expanded income protection access. OBBB also allows farmers to purchase additional coverage in the ARC program. This offers payments when a farmer’s actual revenue falls below a guaranteed level. …
- Changes to farm-related taxes. By altering the capital gains tax regulations, farmers will now be able to sell farmland and make capital gains tax payments across four years ….
- Other business-focused tax changes. As business people, farmers and ranchers also stand to gain from the preservation and expansion of various tax regulations related to investments ….
