Page 30 2026 Spring Farm Outlook LINCOLN DAILY NEWS March 2026 ...and its impact on crop insurance President Donald Trump signed the One, Big, Beautiful Bill (OBBBA) into law on the July 4, 2025. This tax and budget bill made many changes including no tax on tips, overtime, or car loan interest according to the IRS. While “no tax on tips” was one of the main selling points of OBBBA, one additional area it impacted was crop insurance. What is crop insurance? Companies provide insurance on all kinds of things, from a person’s health and life to their cars and pets. Crops are one of, if not the most important thing to a farmer. They are, at the end of the day, what farmers use to get paid and continue their good work. When crops become damaged due to things outside a farmer’s control, crop insurance removes some of the financial anxiety from the farmer’s shoulders. It ensures that farmers receive money for their crops so they can continue to farm for years to come. Just as a home can be damaged in a storm, so can crops. Farmers can lose billions of dollars in crops due to extreme weather. According to
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