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U.S. House passes OBBB, ag groups say it’s win for the industry

The U.S. House has passed President Trump’s One Big Beautiful Bill, 216-214, and many ag groups say it includes several key wins for the industry.

Ryan Yates with American Farm Bureau Federation tells Brownfield, “It is a big win for farmers and ranchers. You’ve got $65.5 billion dollars that will be invested in commodity programs, crop insurance, conservation trade, specialty crops and the orphan programs. I mean this, this bill delivers big.”

Ryan Yates:

National Corn Growers Association President Kenneth Hartman Jr says the legislation makes critical improvements to the farm safety net. “We also know that we’re getting some of the Title 1 farm bill parts in this bill, which is going to be helpful considering where the markets are and the prices are right now. We’re very excited and very happy that. We’re doubling that MAP (Market Access Program) and FMD (Foreign Market Develop) funds for foreign market development.”

Kenneth Hartman Jr:

Farm business professor Gary Schnitkey at the University of Illinois says the boost to corn and soybean reference prices should result in 2025 crop safety net payments in 2026. “And we sort of estimate the payment for Central Illinois farm being around $60.00 per acre. with the Old Farm bill that would have been $26. It’s very helpful. It covers $40.00, but we’re still in a tight situation even with this bill passing.”

Gary Schnitkey:

Kent Bacus, executive director of the National Cattlemen’s Beef Association, says the tax provisions passed in the One Big Beautiful Bill Act are a generational fix that addresses some of the major issues facing America’s farmers and ranchers. “It increases the Death Tax exemption up to $15 million per individual and $30 million per couple,” he says. “That’s adjusted for inflation and it’s permanent. The other key thing is that it does not change anything with step up in basis that is that’s locked in.”

Step-up in basis adjusts the cost basis of an inherited asset to its fair market value at the time of the original owner’s death, opposed than the price the owner originally paid for it.

Bacus says these moves, along with making the Section 199 Small Business Income deductions permanent and increasing the Section 179 expensing limit to $2.5 million, will help farmers and ranchers pass their operations on to the next generation. 

Kent Bacus:

National Farmers Union President Rob Larew tells Brownfield while there were some improvements, the bill falls short in protecting rural communities. “This bill is going to put a lot of communities, particularly rural communities, with additional pressures, everything from rural healthcare, pressures on Medicaid, which impacts not just farmers and ranchers, but everyone in those communities.”

Rob Larew:

The Senate approved the legislation earlier this week 51-50 with Vice President JD Vance casting the tie-breaking vote. President Trump is expected to sign the bill Friday during a special ceremony.

The bill does include cuts to the Supplemental Nutrition Assistance Program. It contains an extension of the 45Z clean fuels tax credit through 2029, which is only available for American grown feedstock.

American Coalition for Ethanol CEO Brian Jennings says the changes will strengthen the original credit but would have preferred an extension through 2031.

Growth Energy CEO Emily Skor says 45Z will unlock billions of new investments in rural America.

Geoff Cooper, president and CEO of the Renewable Fuels Association, says the bill provides much-needed growth for the biofuels industry.  

Pat Clements, president of the National Association of Wheat Growers, says the legislation allows wheat farmers to remain globally competitive and support national food security.

American Soybean Association President Caleb Ragland says OBBB will maintain several crucial farm programs and tax provisions that support U.S. soybean growers.

Brownfield’s Meghan Grebner, Jared White and Larry Lee contributed to this story.