Marshall: Republicans are putting agriculture and rural America first

Agriculture is the backbone of the Kansas economy and nowhere is that more pronounced than in our rural communities.

As the price of wheat goes down, so goes the prosperity of our farming communities. When farmers do well, schools benefit, rural hospitals keep pace, dealerships sell more vehicles and equipment, and Main Street thrives. 

During the four years of the Biden administration, agriculture and rural America took a backseat to riots, electric vehicle mandates and climate change initiatives that only served to benefit big-city non-profits. Indeed, last year we saw a record drop in net farm income.

Now, Republicans have stepped up to deliver on campaign promises to support the agriculture industry, and Congress’s Republican led reconciliation bill is the first step in returning prosperity to rural Kansas. The legislation extends the tax cuts passed in 2017 through the Tax Cuts and Jobs Act. 

Families will see a doubling of the child tax credit and nearly $1,000 more per month in their pockets. Business owners will be allowed to increase their deductible expenses, and the death tax will be permanently increased to $15 million for single filers ($30 million for joint filers) and indexed for inflation. This brings much-needed certainty in a world of uncertainty for farm families. Making 199A, bonus depreciation, and interest deductibility permanent, will all be home runs for the American farmer and rancher. And significantly, Students who live on the farm will no longer be penalized when completing the Free Application for Federal Student Aid when enrolling for college. 

Just as important are reliable farm programs for growers. The legislation modernizes the farm safety net through increased reference prices and makes important adjustments to crop insurance to make it more responsive to risk, like the recent flooding we saw in many parts of the state. More specifically, in this Republican reconciliation bill, we raise much-needed reference prices and help out more with the ever-increasing costs of crop insurance.

In conjunction with the Environmental Protection Agency’s recent announcement of renewable fuel standard and blending obligations for 2026 and 2027, Congress has extended the 45Z tax credit that incentivizes the use of domestic crops for biofuels and domestic energy production. Greater demand for Kansas-grown crops means higher prices at the elevator. We can and should be using domestic and renewable resources to power our cars and airplanes. 

Republicans are standing up for farmers, ranchers, and rural America. President Biden and the Democrats kicked the can down the road and failed to pass a new farm bill. Now, we are putting farmers and their communities first, delivering certainty to farm programs and taking the first step in revitalizing our rural economies.

U.S. Sen. Roger Marshall, R-KS, is a member of the Senate Committee on Agriculture, Nutrition and Forestry.