The National Cotton Council (NCC) has expressed strong support for the recent Senate passage of the One Big Beautiful Bill (OBBB) Act, a pivotal piece of legislation aimed at reinforcing the agricultural safety net.
The OBBB Act is a proposed budget reconciliation bill in the 119th United States Congress proposed by President Donald Trump.
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It seeks to restore America’s economic strength and reward its hardworking citizens.
The bill aims to protect family farmers by preventing punitive double taxation from hitting two million family farms.
It raises death tax exemption, increasing the amount family farms can inherit without paying taxes.
NCC chairman Patrick Johnson said: “The NCC appreciates the momentous effort that has gone into crafting and passing the One Big Beautiful Bill.
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By GlobalData“We are grateful for the Senate’s commitment to delivering meaningful enhancements to the cotton safety net, which is absolutely critical for the stability and future of our industry.”
Several American companies across industries are supporting the OBBB act, recognising it as a bold step toward revitalising the US economy.
The companies, from manufacturing giants and tech leaders to energy and retail powerhouses, see the bill as a catalyst for job creation, domestic investment, and long-term growth.
The budget reconciliation bill contains a provision to permanently end the ‘de minimis’ threshold for commercial imports from all nations by 2027.
Last week The National Retail Federation voiced strong support for the Senate Amendment to the Act calling it a “pro-growth, pro-consumer package that will boost take-home pay, fuel economic expansion and support retail businesses and the communities they serve.”
“This legislation delivers meaningful tax relief to working families, ensures the permanence of pro-growth tax policies, and preserves the low corporate and small business tax rates that have helped drive record investment and hiring,” said NRF CEO, Matthew Shay. “We urge Congress to move quickly to send this bill to the president’s desk.”
