The One Big Beautiful Bill Act, recently passed by the House GOP, aims to support small businesses, family farms, and rural communities through a series of tax and investment measures. The legislation protects the 199A small business deduction, doubles immediate expensing from the current 40% to 100%, and renews the Opportunity Zones program, incentivizing domestic production and investment. It is projected to save two million family farms from the death tax, preserving generational farming legacies and encouraging long-term investment in agriculture. The bill is described as the largest investment in the farm economy in decades, reversing declines seen during the Biden administration and enhancing food security, which lawmakers emphasize as national security. Additionally, the bill allocates $150 billion to modernize the U.S. military, strengthen defense industrial capabilities, and counter foreign threats, particularly from China. It also invests in American agricultural research infrastructure to maintain leadership in agricultural science and technology. Lawmakers view this legislation as a foundational step toward the comprehensive 2025 Farm Bill, with further agricultural support measures expected.