The U.S. House of Representatives on May 22 passed a budget reconciliation bill that modernizes farm bill programs and extends and expands critical tax provisions that benefit America’s farmers and ranchers. The bill, known as the One Big Beautiful Bill Act, was narrowly approved 215-214. 

The House bill includes a $56.4 billion increase for farm bill programs, including raising reference prices for commodities by 10% to 20% and higher premium subsidies ...