The U.S. Senate passed Trump's One Big Beautiful Bill Act (OBBA) after more than a day of debates, and the bill is now back in the House of Representatives, awaiting approval ahead of the president's July 4 deadline.

Made through the reconciliation process, which allows for the passage of fiscal legislation without a filibuster delay. The passage is a win for many ag and farm industries, since the tax bill’s Title I sections focus directly on various issues affecting the industries.

Sections B to D rescind unspent forestry funds, change how commodity support is calculated, increase reference prices for several commodities, and expand USDA’s disaster relief programs, including the Tree Assistance Program and the Emergency Assistance for Livestock, Honey Bees, and Farm-Raised Fish (ELAP).

An example is the increase in Price Loss Coverage (PLC) reference prices for agricultural commodities, including peanuts. Beginning with the 2025 crop year, the nut reference price is raised to $630 per ton, an increase from the previous price of $535 under the 2018 Farm Bill. The nearly 18% increase gives peanut producers stronger price protection in the face of a disaster.

Supplemental disaster assistance, like the Tree Assistance Program, is also a major necessity for the industry, especially specialty crop growers. 

Subtitles E to F focus on crop insurance and additional investments for rural America. They extend beginning rancher status and provide additional assistance beyond standard subsidies for up to four years, raise area-based crop insurance, and create a new trade promotion program backed by $285 million per year starting in fiscal year 2027.

The bill also extends funds for agricultural research, renews and increases funding for specialty crops, and extends Emergency Citrus Research Funding.

According to the Congressional Budget Office, OBBA would add $2.619 trillion to the federal government's $36.2 trillion debt over the next 10 years. Many agricultural organizations have said this is a helpful step forward, but continue to push for a complete farm bill due to the bill's limitations.

The National Council of Farmer Cooperatives praised the Senate’s decision and called the bill a "critical step toward delivering long-overdue certainty to America’s farmers and cooperatives."

Meanwhile, American Farm Bureau President Zippy Duvall released a statement applauding the Senate passage of the bill, saying farmers "need the certainty that this legislation will provide." He stated that improvements to farm safety net programs that reflect today’s agricultural economy and maintaining important tax provisions will directly benefit farm and ranch families.

“Prices being paid to farmers continue to fall, while expenses remain stubbornly high," he said. "The combination is taking a toll – America lost more than 141,000 farms in a five-year period, leading to more consolidation of family farms. Increases to reference prices as well as investments in conservation, research and trade are desperately needed, especially since it’s been seven years since passage of a new farm bill. Farmers will stand a better chance of enduring tough times so they can plant for another season.

“Important tax provisions will also help farmers save money that can be used to pay bills, invest in new technologies, and pass the family farm to the next generation. We now urge the House to pass the bill and get it to the president’s desk for his signature to ensure America’s farmers and ranchers can continue putting food on the table for America’s families.”