Rushmore State News

U.S. Senate Majority Leader John Thune (R-S.D.) addressed the Senate, highlighting recent challenges faced by American farmers and ranchers. He cited higher input costs, increased interest rates, disease outbreaks, and natural disasters as factors that have made agricultural work more difficult in recent years.

Thune stated that supporting farmers and ranchers has been a priority for the Republican majority. He credited Senator Boozman and the Agriculture Committee for their efforts in addressing these issues through what he called the "One Big Beautiful Bill."

He explained that the bill reauthorizes commodity programs through 2031 and raises reference prices for all covered commodities to better reflect current market conditions. The legislation also includes a voluntary base acre update, allowing 30 million acres to be aligned with current planting patterns.

Crop insurance provisions are expanded under the bill, including an extension of support for beginning farmers from five to ten years. Livestock producers will see improvements to indemnity programs, with full coverage for losses due to predation and partial coverage for weather or disease-related losses. Supplemental payments are also included for unborn livestock lost.

The bill reduces the required drought period needed to trigger payments from the Livestock Forage Disaster Program from several weeks down to four consecutive weeks, with continued payments if drought persists into a second month. Investments are also made in disease prevention efforts related to threats such as bird flu and African Swine Fever.

Additional measures include bolstering dairy margin coverage, improving support for honeybee producers after losses, investing in conservation programs benefiting wildlife habitats—such as those supporting South Dakota’s wild bird populations—and supporting research at agricultural institutions while promoting trade opportunities.

Tax relief is another focus of the legislation. The bill makes permanent lower tax rates established by previous tax reforms, increases standard deductions and child tax credits, adds a bonus deduction for seniors, and allows many farmers and ranchers to claim small business deductions like Section 199A. Full expensing of new equipment purchases is now permanent.

Estate planning changes are also included; raising the threshold on estate taxes aims to help keep farms within families without forcing sales due to tax burdens.

Thune concluded his remarks by emphasizing agriculture’s importance: “Madam President, I’m proud that the One Big Beautiful Bill delivers for them.”