Kansas U.S. Congressman Derek Schmidt: Farmers & Ranchers and “Big Beautiful Bill”

Kansas U.S. Congressman Derek Schmidt told the KZRG Morning Newswatch what was in the “Big Beautiful Bill” for area farmers and ranchers:

Schmidt said:  “We put a lot of the farm bill renewal in there. So, for example, the target prices are increased now. They’ve been stuck back at 2018 levels. They’ve now been modernized and that affects nearly all the commodity programs and the payment programs. That’s very good news, gives certainty for farmers going forward. Crop insurance extension is in there, very, very important. That’s one of the critical risk management tools for producers throughout the area I represent.”

One of the benefits for everyone, including area farmers and ranchers in the passing of the “Big Beautiful Bill” was the extension of the 2017 Trump tax cuts.

Kansas U.S. Congressman Derek Schmidt tells Newstalk KZRG:

“Obviously, the continuation of the lower income tax rates are at the, at the top of the list for everybody, not just farmers and ranchers, but certainly important for farmers and ranchers. Avoiding that giant tax increase that had been scheduled for January 1st and now has been headed off.”  

Schmidt went on to say:  “But there are particular things in there that are especially beneficial for agriculture producers, farmers and ranchers throughout southeast Kansas, eastern Kansas. Things like making permanent and then indexing the heightened state tax deductions so that folks can now plan for transferring their operations later in life, the end of life, to their children. And family farms, good sized family farms can continue to stay in the family. Sometimes people look at those estate tax numbers and they say, golly, those are big numbers.”