Reconciliation Process Continues in the Senate
The Republicans’ reconciliation bill (the One Big Beautiful Bill Act, H.R. 1) is still going through intense rounds of internal negotiations as the Senate looks to make several changes compared to the previously passed House version. With a self-imposed deadline of July 4 to get the bill out of the upper chamber, some lawmakers are trying to find ways to increase cuts, particularly after the Congressional Budget Office’s analysis showing it would add a net $2.3 trillion to the federal deficit over the next decade. The price tag has led to a rare public rebuking by former Department of Government Efficiency (DOGE) lead Elon Musk, who has continued to lambast supporters of the bill in recent days.
President Donald Trump continues to support the legislation, and it remains to be seen if outside public pressure will knock the legislation off course. H.R. 1 includes many provisions typically found in a Farm Bill, such as reference price increases, improvements to crop insurance, funding for specialty crop research and grants, and expanded support for international market access programs. For a full breakdown of these provisions, see the latest AFBF Market Intel report. Regardless of what changes are made in the Senate, a conference committee made up of House and Senate members is expected to be necessary to reconcile differences between the two versions. Staff Contact: Matthew Viohl, mviohl@cfbf.com
.svg.png?cacheid=0.9616018850896426)
