S4502-119

In Committee

Farm Disaster Tax Cut Act

119th Congress Introduced May 12, 2026

Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.

Summary

What This Bill Does

This bill, Farm Disaster Tax Cut Act, changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses. The main policy domain is Agriculture, Finance.

Who Benefits and How

farmers, ranchers, and agricultural businesses may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.

Who Bears the Burden and How

federal implementing agencies, farmers, ranchers, and agricultural businesses may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.

Key Provisions

  • Section id2ad22e80925546e38205066140ebfff6: 1. Short title This Act may be cited as the Farm Disaster Tax Cut Act.
  • Section id1c04b0b49fb04732954f1d8966fb56ed: 2. Crop insurance indemnity payments excluded from gross income Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by...
  • Section id082e422a0f3a402fb02e9af16c10e35f: 139M. Crop insurance indemnity payments Gross income shall not include any crop insurance indemnity payment made pursuant to the Federal Crop Insurance Act (7...

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.

At a Glance

What This Bill Does

This bill, Farm Disaster Tax Cut Act, changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses.

Key Policy Areas

Agriculture, Finance

Primary Purpose

This bill, Farm Disaster Tax Cut Act, changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses.

Policy Domains

Agriculture Finance

Whole bill

Identified Gains
  • farmers, ranchers, and agricultural businesses
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: is
farmers, ranchers, and agricultural businesses:
Identified Costs
  • federal implementing agencies
  • farmers, ranchers, and agricultural businesses
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: is
federal implementing agencies:
farmers, ranchers, and agricultural businesses:

Legislative Progress

In Committee
Introduced Committee Passed
May 12, 2026

Read twice and referred to the Committee on Finance.

May 12, 2026

Introduced in Senate

May 12, 2026

Mr. Ossoff introduced the following bill; which was read twice …

Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Agriculture Finance
Actor Mappings
"federal_implementing_agencies"
→ Federal agencies assigned duties by the bill

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology