WASHINGTON, D.C. – Tuesday, U.S. Senator Pete Ricketts (R-NE) issued the following statement after the U.S. Senate voted to pass the One Big Beautiful Bill Act as part of the budget reconciliation process.
“The One Big Beautiful Bill is a once-in-a-generation opportunity to deliver for Nebraska,” said Ricketts.“This legislation will result in increased security, strength, and prosperity for the American people. The bill restores critical pro-growth business provisions and makes them permanent, benefitting Nebraska farming, ranching, and small business. Most of all, this is a win for families in Nebraska—creating a brighter future for our country.”
BACKGROUND:
This legislation is a win for Nebraska families:
- Prevents a $2,443 tax hike on the average Nebraska family.
- Protects over 44,000 family-owned farms in Nebraska from having their death tax exemption cut in half.
- Ensures more than 239,000 Nebraska households’ child tax credit is not cut in half.
- Makes sure more than 868,000 Nebraska families’ standard deduction is not cut in half.
- Establishes community engagement requirements for able-bodied adults who are choosing not to work and do not have dependent children or elderly parents in their care.
