President Donald Trump has announced that a recently passed bill rescues over 2 million family farms from the estate tax, often referred to as the death tax. Trump emphasized the bill's importance for states like Iowa, claiming that before its enactment, many farms were lost to banks due to the tax burden. However, recent data indicates that farm bankruptcies in the United States have increased, with 259 farms filing for bankruptcy in the first quarter of 2025 alone, surpassing the total filings for all of 2024. This marks the highest number of farm bankruptcy filings since 2021. Analysts attribute this rise to higher costs, reduced loan programs, and climate-related challenges.