Permanent tax benefits include a 20% business income deduction and improved depreciation allowances for farm equipment and buildings. Farmland capital gains taxes can now be paid in four parts if certain conditions are met.
Despite benefits to agriculture, the bill faces backlash for cutting $185 billion from SNAP and $1.1 trillion from Medicaid. These cuts add work requirements and shift costs to states, possibly reducing healthcare and food aid access.
The bill tries to ease rural healthcare stress with $50 billion in relief for hospitals. But closures, like the one in Curtis, Nebraska, reflect concerns about the future.
House Speaker Mike Johnson said, “With the One Big Beautiful Bill, we are going to make the country stronger, safer and more prosperous than ever before and every American is going to benefit from that.”
The bill’s impact will reshape farm programs and rural economies nationwide.