FARGO — It's not an official farm bill, but provisions Sen. John Hoeven, R-N.D., said he was able to secure as part of the massive budget bill narrowly approved by the U.S. Senate is just as good for North Dakota farmers and ranchers.
Hours after the bill cleared the Senate on Tuesday, July 1, Hoeven returned from Washington, D.C., to a roundtable discussion Wednesday at North Dakota State University with area agriculture industry officials, most of whom said they were pleased with the provisions included in the Senate bill version.
Hoeven, who serves on the Senate Agriculture Appropriations Committee, said those provisions include updated reference prices for the 2025 crop year, changes to crop insurance and updates to sugar and livestock disaster programs. There are also changes to inheritance taxes included in the Senate's version of President Donald Trump's "big beautiful bill."
"The Senate has now passed what is essentially a seven-year farm bill," Hoeven said. "The heart and the soul of the farm bill is in there, and it's what you all told us had to be in there."
The Senate's version of the bill will still need to be approved by the House of Representatives, which may modify the included provisions.
"The important thing is we got the bill we were after," Hoeven said.
Some of the provisions Hoeven touted include an extension of the sugar program through 2031 and improvements to livestock disaster programs, so that livestock indemnity payments cover 100% of market value for losses from federally protected predators and 75% for losses from weather and disease.
He said an inflation adjustment and improved price escalator have been added to reference price calculations. This means the prices referenced for farm insurance programs will be more up-to-date, resulting in a better and more accurate safety net for farmers.
Hoeven also claimed provisions will bring tax relief to generational farmers as the death tax exemption will be increased to $15 million or $30 million for those married filing jointly, adjusted for inflation. Also, the pass-through deduction for small businesses, farmers and ranchers will be permanently extended.
Producers representing corn, sugar, pulse, grain, cattle, and others attended Wednesday's event, as well as representatives from NDSU, Farmers Union and the local U.S. Department of Agriculture office.
While nearly all agreed the provisions would be beneficial to their specialized industry and thanked Hoeven for his work, some expressed concern about the potential for trade wars and the recent tariff demands by the president, which could significantly impact agricultural trade.
"Trade definitely has some of the pulse people on edge," said Kevin Wolsky, Foster County and District V representative of the Northern Pulse Growers Association.