Congressman Flood Highlights Ag Wins in the ‘One Big Beautiful Bill’ with Senator Ricketts and Nebraska Ag Leaders
WASHINGTON, D.C. – Recently, U.S. Congressman Mike Flood was joined by U.S. Senator Pete Ricketts in Norfolk to highlight key agricultural policy wins for Nebraska’s farmers and ranchers included in the recently passed reconciliation bill, known as the “One Big Beautiful Bill Act.”
“Whether it was providing certainty to our state’s great farmers and ranchers by extending tax deductions or adding nearly $66 billion to Farm Bill and rural provisions, the One Big Beautiful Bill Act helps the very people who feed and grow our economy,” said Congressman Flood. “Now that President Trump has signed this historic investment in rural America, it's time to continue our hard work to deliver an updated Farm Bill. I am also glad to have Senator Ricketts and ag leaders join me in discussing these commonsense wins on behalf of our state’s farmers and ranchers.”
The One Big Beautiful Bill Act makes the standard deduction permanent at $15,750 per tax year. It also extends and expands the child tax credit to $2,200 annually. Additionally, it makes the 20% qualified business income deduction permanent, preserves the individual estate tax exemption at $15 million, and makes permanent Section 179 expensing at $2.5 million. Bonus depreciation is also made permanent at 100%.
Farm programs receive a significant boost with $65.6 billion in new funding. Additional funding includes a $59 billion increase for certain agricultural programs- such as Agricultural Risk Coverage (ARC) and Crop Insurance- $2.19 billion for trade programs, $2.78 billion for disaster assistance, and more.
Learn more about how the One Big Beautiful Bill Act supports Nebraska’s ag economy here.
B-roll and photos of the roundtable can be found here. News outlets are welcome to use the media for their reporting purposes.
Congressman Flood serves as Vice Chair of the Republican Main Street Caucus, Chairman of the Housing and Insurance Subcommittee, and is a member of the Agriculture Research Caucus as well as Western Caucus.