[Congressional Record Volume 171, Number 107 (Monday, June 23, 2025)]
[Senate]
[Page S3484]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         ONE BIG BEAUTIFUL BILL

  Mr. THUNE. Madam President, we are getting closer to passing a bill 
that will help make America stronger and more prosperous--a bill that 
will ensure that working families can keep more of their hard-earned 
money; that will help small businesses grow and create jobs, strengthen 
America's farms and ranches, rebuild our military, secure our border, 
and, of course, unleash American energy. This bill is great news for 
our entire country, for Americans from every place and walk of life.
  But, today, I want to talk about how this bill will help make my home 
State of South Dakota stronger and more prosperous. That starts with 
making tax relief permanent.
  In 2017, the Republican-led Tax Cuts and Jobs Act meant lower tax 
bills for South Dakotans. That bill lowered tax rates for every income 
bracket, doubled the child tax credit, and nearly doubled the standard 
deduction. But those tax policies are set to expire this year, if 
Congress doesn't act, which would mean an average South Dakotan would 
see a $2,500 tax hike next year.
  We are not going to let that happen. Our bill will extend the Tax 
Cuts and Jobs Act's lower tax rates. It will extend the doubled child 
tax credit. It will extend the nearly doubled standard deduction.
  But not just extend them; make them permanent so that no hard-working 
American has to worry about a looming tax hike again, a few years down 
the road.
  I said we are going to make the $2,000 child tax credit permanent, 
but we are actually going to go further by increasing the tax credit by 
another $200. Under the Republicans' bill, the child tax credit will 
now be $2,200 per child, permanently.
  We are also delivering on a number of the President's campaign 
promises that will provide further relief to hard-working Americans. 
Under our bill, seniors will be able to reduce their taxes further with 
a $6,000 boost to their standard deduction. Police officers, 
firefighters, and hourly workers won't have to pay tax on their 
overtime pay. Waitresses and busboys will benefit with no tax on tips. 
And the next generation will be able to access new investment accounts, 
as adults, that they can use for their education, to buy their first 
home, to start a business--in short, to get a running start on their 
American dream.
  I could go on, but the bottom line is this: a bigger bottom line for 
hard-working Americans for the long term, more money in their 
paychecks, more opportunity, and a brighter future ahead.
  Madam President, the 2017 tax reform also helped grow our economy by 
lifting the tax burden on American businesses. Small businesses, farms, 
and ranches all benefited from lower tax rates and investment 
incentives. Tax reform freed up cash that business owners could use to 
invest in their operations and their workers. And South Dakotans saw 
those benefits on Main Street and on the farms and ranches that are the 
lifeblood of our State.
  Now Republicans are poised to make many of those reforms permanent. 
That includes investment incentives, like full expensing for new 
equipment and for domestic research and development.
  It includes the job-creating 199A small business deduction.
  It includes raising the death tax exemption to $15 million and 
linking it to inflation, meaning countless family farms, ranches, and 
small businesses will be spared the threat of this fundamentally flawed 
tax and the headaches that come with trying to plan for it.
  And, speaking of farms and ranches, in addition to providing farmers 
and ranchers with tax relief, our bill updates the farm safety net to 
address some of the challenges farmers and ranchers have been facing.
  It increases reference prices for every covered commodity, and it 
makes these prices more responsive to market conditions in the coming 
years. It increases crop insurance coverage and affordability, 
including for farmers just starting out. It supports livestock 
producers by making existing programs more responsive to drought and by 
funding the prevention of animal diseases that can devastate livestock. 
It invests in critical conservation programs, including programs that 
support South Dakota's wild bird populations, and it supports a bright 
future for agriculture by funding grants for research at agriculture 
research institutions and promoting trade for commodities in foreign 
markets.
  America's farmers and ranchers have faced some serious challenges in 
recent years--some of the toughest, in fact, in recent memory. I am 
proud that we are addressing their needs in this bill, and I can assure 
America's ag producers that their priorities will continue to be a 
priority here in Washington.
  There is a lot more I could say about this bill and how it will help 
South Dakota and our entire country, but before I close, I want to 
focus on how it will make America more secure.
  It makes a downpayment on strengthening our military by investing in 
the equipment our men and women in uniform need to keep America safe 
amid today's threats and tomorrow's. That includes expediting the 
production of the new B-21 long-range strategic bomber, the future 
backbone of the Air Force's bomber fleet. In the coming years, the B-21 
will operate from several locations, including South Dakota's Ellsworth 
Air Force Base, and it is emblematic of the type of investments this 
bill is making in our military's future.
  This bill also makes a significant investment in our border security, 
including finishing the border wall.
  And, last but not least, it unleashes American energy. It reverses 
course from the Biden administration's hostility to responsible 
conventional energy production, and it will help guarantee a secure, 
stable, and affordable energy supply for American families and 
businesses and for our national security.
  A safer, stronger, and more prosperous America is within reach. We 
have made a lot of progress on this bill, and it is almost time to 
vote. I am looking forward to finishing our work and getting these 
policies in place for the benefit of South Dakota and of our entire 
country.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. SCHUMER. Madam President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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