Through historic tax relief and investments, the One Big Beautiful Bill provides vital support for the farmers, ranchers, and growers that America depends on.
“West Virginia agriculture generates $24 billion in economic output and supports over 176,000 jobs. Their work is vital to the success and wellbeing of our communities. The One Big Beautiful Bill puts West Virginia and American agriculture first by investing in research, bolstering crop insurance, and providing historic tax relief for small and family-owned farms,” Senator Capito said.
West Virginia Wins:
- Extends and enhances estate tax exemptions with higher thresholds and permanent provisions to facilitate intergenerational transfer of family farms.
- Expands producer access to the livestock forage disaster assistance program.
- Updates commodity reference prices so that they will more closely reflect the actual market conditions that farmers are dealing with.
- Invests in rural America by providing significant funding for competitive grants to assist in the construction, alteration, acquisition, modernization, renovation, or remodeling of agricultural research facilities under the Research Facilities Act.
- Increases the annual funding for the Specialty Crop Research Initiative from $80 million to $175 million.
Source : senate.gov