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President Donald Trump signed into law today the sweeping tax overhaul legislation that Congress passed this week, saying he wanted to make good on his promise to give Americans the holiday present he’d promised by Christmas.

The House and Senate approved a measure to fund the federal government through Jan. 19 but could not agree on disaster relief for areas devastated by hurricanes and wildfires.

Many producers could see meaningful tax cuts next year, but the sweeping tax bill that Congress gave final approval to Wednesday will leave them without the certainty on expensing and estate planning that farm groups were seeking.

EPA plans to take another look at minimum age requirements in two pesticide safety rules after they go into effect next year, which could make it more difficult to get a pesticide funding bill passed in Congress.

Prospects this week for passing farm bill fixes sought by cotton and dairy producers dimmed as House Republicans wrangled over a disaster aid bill, and a top Senate Democrat raised objections to the agriculture measures.

Many producers could see meaningful tax cuts next year, but the sweeping tax bill that Congress gave final approval to Wednesday will leave them without the certainty on expensing and estate planning that farm groups were seeking.

In a development with major implications for the next farm bill, House Republicans inserted provisions in a $81 billion disaster aid package to make cotton growers eligible for the Price Loss Coverage Program and expand an insurance program for dairy producers.  

Congressional Republicans are poised to send their historic package of individual and business tax cuts to President Trump's desk before Christmas and also plan to pass a new stopgap funding bill that could include disaster aid to growers hammered by this year's hurricanes.

Congressional Republications finalized a sweeping tax reform package that could cut tax rates for farmers and other small businesses while expanding the Section 179 expensing allowance and doubling the estate tax exemption.