Minnesota State Wire

Brad Finstad, Representative of Minnesota, said that the One Big Beautiful Bill Act will provide crucial tax stability and long-term support to farmers and rural families. The statement was made on X.

"The One Big Beautiful Bill Act delivers wins for farmers and rural America, including critical tax certainty and relief," said Finstad. "We discussed the important impact these wins will have on rural America. Her priorities for ensuring our farmers have the tools they need to pass their operations down to the next generation."

The One Big Beautiful Bill Act (H.R. 1), passed by the U.S. House in May 2025, includes $56.6 billion in agricultural and rural investments over ten years. According to the American Farm Bureau, the bill aims to enhance farm safety-net programs, expand rural broadband, and support biofuel tax credits. It also codifies higher estate and gift tax exemptions, benefiting farm succession planning, and modifies tax reporting thresholds to ease burdens on rural entrepreneurs.

The House Ways and Means Committee estimates that the One Big Beautiful Bill Act will deliver over $10 billion in tax relief to American farmers and rural small businesses through permanent estate tax exemptions of $15 million per person, 100% bonus depreciation, and increased Section 179 expensing. These provisions are designed to reduce financial stress on family-owned operations and encourage capital reinvestment in rural communities.

According to the USDA’s Economic Research Service, fewer than 0.2% of U.S. farm estates owed federal estate taxes in 2020 due to high exemption thresholds; however, that figure could rise to around 4% if the exemption reverts in 2026. The bill's provision to permanently raise the exemption seeks to protect mid-sized and large farms from liquidity issues during generational transfers. These changes aim to prevent farmland consolidation and maintain rural family ownership.

Finstad is a Republican congressman representing Minnesota’s 1st District since 2022. He is a former USDA Rural Development State Director and lifelong farmer. According to his official House biography, Finstad chairs the Agriculture Subcommittee on Nutrition and Foreign Agriculture and serves on the Armed Services and Small Business Committees. His legislative priorities include rural infrastructure, farm succession, and reducing regulatory burdens on agricultural producers.