President Trump’s mega-policy bill passed after all-nighters and political maneuvering in both chambers. It took 26 hours of debate for the Senate to pass the budget reconciliation bill. Vice President J.D. Vance had to break a tie vote to move the bill across the finish line. The White House and Speaker Mike Johnson worked through the night to secure the 218-214 victory in the House. The One Big Beautiful Bill includes Trump policy priorities. This bill permanently extends the 2017 tax provisions, including the Section 199A pass-through deduction and bonus depreciation. It also increases Section 179 expensing to $2.5 million. For farmers and ranchers, the bill increases crop reference prices and includes an inflation adjuster to build in future increases. It strengthens crop insurance, improves livestock disaster programs and extends the sugar program through 2031.
