Working for South Dakota Farmers and Ranchers

Agriculture is a way of life. It’s a tough way of life, but it’s the lifeblood of South Dakota. As I’ve talked with farmers and ranchers in our state these last few years, I’ve heard about the challenges they have been facing; higher input costs, lower commodity prices, natural disasters, and disease, to name a few. So last year, when Republicans passed the Working Families Tax Cuts, we made sure it addressed some of the challenges facing our producers. That started with strengthening the farm safety net by bolstering crop insurance and reauthorizing commodity programs through 2031. On top of that, higher reference prices for every covered commodity will go into effect this fall, and the U.S. Department of Agriculture is currently rolling out the voluntary base acre update from this bill as well. Livestock producers also got good news from this bill. It improved the Livestock Indemnity Program, so it covers 75 percent of losses due to weather or disease, plus a supplemental payment for loss of unborn livestock. It also included a provision I authored to trigger payments from the Livestock Forage Disaster Program after four consecutive weeks of drought rather than eight. And it made critical investments in disease prevention and preparedness efforts too. Farmers and ranchers have also been able to benefit from the tax relief in the Working Families Tax Cuts. The 199A small business deduction has been critical for agriculture operations, and it’s now a permanent feature of the tax code thanks to this bill. Then there’s 100 percent immediate expensing, which allows farmers and ranchers to deduct the full cost of a new piece of equipment the year they start using it and is also now permanent. I’m especially proud of our work to protect more family farms and ranches from the death tax. The Working Families Tax Cuts permanently raised the exemption threshold for this unfair tax, saving a lot more families from a big tax bill when they pass their operation onto the next generation – not to mention the costs and headaches of estate planning many undertake because of the death tax. My Republican colleagues and I remain focused on supporting America’s farmers and ranchers. Work continues on a farm bill and additional agriculture aid. As a longtime supporter of renewable fuels, I am committed to advancing legislation for nationwide year-round E15 as well. And we’re working on trade and supply chain issues as well as the cost of fertilizer. The Working Families Tax Cuts delivered a number of wins for South Dakota’s producers, but it’s not the last word on supporting agriculture in our state. I continue to listen to farmers and ranchers in our state and work to deliver the support they need.