MOFB President issues statement following final passage of ‘One, Big, Beautiful Bill’ JEFFERSON CITY – – MOFB President Garrett Hawkins issued the following statement following the final passage of the “One, Big, Beautiful Bill” by the United States Congress: “Today marks a monumental step in advancing Farm Bureau’s top priorities on key agriculture and tax provisions. Under the “One, Big, Beautiful Bill”, farmers, ranchers, and small business owners can breathe a sigh of relief as we move toward greater tax certainty and much-needed improvements to the farm safety net. The legislation contains top-tier Missouri Farm Bureau priorities that support our mission of bringing the next generation home to rural America. Among them are several critical tax provisions, such as an increased estate tax exemption, expanded access to Section 179 expensing, and continued use of key tools such as cash accounting, business interest deductions, and expensing for farms and small businesses. Additionally, the bill provides additional risk management tools across the agriculture industry, including a reference price increase under farm bill programs and updates to dairy margin coverage. We are pleased to see several provisions related to promoting affordable, reliable and domestically produced energy and biofuels contained in the legislation. Together, these measures will help build a stronger, more resilient rural economy for our children and grandchildren to call home. We know that these negotiations have been tough. We commend House Ways and Means Committee Chairman Jason Smith and members of the Missouri delegation, including Senator Josh Hawley, Senator Eric Schmitt, Representative Ann Wagner, Representative Bob Onder, Representative Mark Alford, Representative Sam Graves and Representative Eric Burlison, for their leadership and support in getting this bill across the finish line.” |
