Crapo and big beautiful bill
U.S. Senator Mike Crapo says the One Big Beautiful Bill is One Big Beautiful win for Idaho farmers and ranchers.
“This bill has made some major changes to boost and strengthen our ability in the agriculture community, in addition to just helping people in general,” said Crapo.
On August 20th the Senator held a press conference at Obendorf Farms near Parma to highlight key provisions in the bill for the state’s ag industry.
The bill was signed into law July 4th, and includes items like locking in the 2017 Trump tax rates, doubling the death tax exemption, and ensuring farms and small businesses can stay in the family for generations.
“For our upcoming and younger generations, we provided the opportunity for farmland to pass to the next generation in a process that does not generate taxes if the land is kept in farming,” Crapo said. “That was the first step to help move land between generations if it’s kept in agriculture.”
Crapo said it also supports investment in rural communities by lowering the cost of borrowing for farmers and ranchers, and provides 100% bonus depreciation.
“That means that all farmers and ranchers in Idaho can immediately deduct, immediately deduct the full cost of farm equipment, machinery and vehicles,” said Crapo.
