Northeast South Dakota News

U.S. Senate Majority Leader John Thune (R-S.D.) spoke on the Senate floor to highlight provisions in the "One Big Beautiful Bill," which he said addresses several challenges facing American farmers and ranchers.

Thune noted that agriculture has become more difficult in recent years due to increased input costs, higher interest rates, disease outbreaks, and natural disasters. He stated that these factors have left many producers uncertain about their future.

"Madam President, earlier this year, I promised that farmers and ranchers would be a priority for the new Republican majority," Thune said. "And thanks to Senator Boozman’s leadership and the work of the Agriculture Committee, we’ve addressed some of … farmers and ranchers’ challenges head-on in the One Big Beautiful Bill."

The bill reauthorizes commodity programs through 2031 and raises reference prices for all covered commodities. According to Thune, previous reference prices did not keep up with rising input costs. The legislation also includes a voluntary base acre update for these programs—the first such update in several years—making 30 million acres available so programs are based on current planted acres.

In addition to commodity program reforms, Thune highlighted measures supporting crop insurance. The bill extends crop insurance support for beginning farmers from five to ten years of operation.

For livestock producers, the legislation improves the Livestock Indemnity Program by covering 100 percent of losses due to predation and 75 percent for losses from weather or disease. It also provides supplemental payments for loss of unborn livestock. Changes were made to the Livestock Forage Disaster Program so payments can begin after four consecutive weeks of drought.

The bill invests in disease prevention and preparedness efforts related to issues like bird flu, New World screwworm, and African Swine Fever. It also supports dairy margin coverage for dairy farmers, improves assistance for honeybee producers experiencing losses, invests in conservation programs benefiting wildlife habitats—including those supporting South Dakota’s wild bird populations—and funds agricultural research institutions while promoting trade opportunities.

Tax relief is another focus of the bill. It makes permanent lower tax rates established by previous legislation such as the Tax Cuts and Jobs Act (https://www.congress.gov/bill/115th-congress/house-bill/1), increases standard deductions and child tax credits, adds a bonus deduction for seniors, maintains eligibility for many producers under Section 199A small business deduction (https://www.irs.gov/newsroom/section-199a-qualified-business-income-deduction-faq), and makes full expensing a permanent feature allowing immediate deduction of equipment purchases.

Estate tax changes raise exemption thresholds—commonly referred to as "death tax" relief—intended to help families keep farms intact across generations without forced sales or complex estate planning.

Thune concluded: "Thanks to the One Big Beautiful Bill, more farms and ranches are going to be able to stay in the family... Madam President, I’m proud that the One Big Beautiful Bill delivers for them."