Key Takeaways
- Increased Commodity Support: The proposed Farm Bill 2024 aims to enhance farmers’ financial support through updated commodity programs.
- Conservation Investments: Allocates significant funding for conservation programs and sustainability initiatives.
- Rural Development: Strengthens rural economies with improved access to broadband and financial resources.
- Trade and Market Access: Expands market access for U.S. agricultural products while addressing global food security.
- Research and Innovation: Boosts agricultural research and development funding to ensure future growth.
The proposed 2024 Farm Bill brings updates and reforms across various sectors of agriculture, aiming to bolster the agricultural economy, enhance conservation efforts, and support rural development.
What Does The Proposed Farm Bill 2024 Include?
Title I: Commodities
The proposed bill aims to give farmers greater certainty and financial support by reauthorizing and enhancing commodity programs. Key changes include:
- Increased Statutory Reference Prices: The bill proposes a 10% to 20% increase in statutory reference prices for all covered commodities, addressing persistent inflation and rising production costs.
- Enhanced Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC): The ARC guarantee is increased to 90% of benchmark revenue, with a maximum payment rate of 12.5%.
- Modernized Marketing Loans: Marketing loan rates for several commodities were updated, including significant increases for cotton, dry peas, and wool.
Title II: Conservation
The bill continues to support voluntary, incentive-based conservation programs with historic investments and improvements:
- Reallocation of IRA Conservation Funds: Funds from the Inflation Reduction Act (IRA) are reallocated to enhance programs such as the Environmental Quality Incentives Program (EQIP) and the Conservation Stewardship Program (CSP).
- New Programs and Enhancements: New programs, such as the Feral Swine Eradication and Control Program and the Voluntary Public Access and Habitat Incentive Program (VPA-HIP), will be introduced.
Title III: Trade
Recognizing agriculture as a key economic driver, the bill aims to expand market access and promote U.S. agricultural interests globally:
- Increased Funding for Market Promotion: The funding for the Market Access Program (MAP) and the Foreign Market Development (FMD) program will be doubled to enhance global market access.
- Focus on U.S. Commodities: Food for Peace reserves 50% of its resources for U.S.-grown commodities, addressing global food insecurity while supporting domestic producers.
Title VI: Rural Development
The bill reinforces the importance of rural development with several key initiatives:
- Broadband Connectivity: Integration of the ReConnect Program into the Farm Bill Broadband Program, with increased eligibility speeds to ensure better internet access in rural areas.
- Financial Assistance: This bill reauthorizes and improves programs like the Rural Economic Development Loan and Grant (REDLG) Program and the Rural Business Investment Program to foster economic growth in rural communities.
Title VII: Research, Extension, and Related Matters
To keep American agriculture at the forefront of innovation, the bill provides substantial support for research and extension services:
- Research Facilities Modernization: Allocates $2.5 billion in mandatory funding for modernizing agricultural research facilities.
- Increased Funding for Specialty Crop Research: This bill boosts funding for the Specialty Crop Research Initiative to $175 million per year, supporting crop production and protection advancements.
Reactions From Key Stakeholders To The Farm Bill
The introduction of the 2024 Farm Bill has elicited a range of reactions from various stakeholders in the agricultural sector.
National Farmers Union Statement:
National Farmers Union (NFU) President Rob Larew commented on the 2024 Farm Bill overviews issued by the Senate and House Agriculture Committees, saying, “A farm bill needs bipartisan support to become law. I appreciate the work the House and Senate Ag Committees have put into the current proposals. There’s more work to be done to find common ground and consensus. Building a stronger farm bill coalition will provide the support necessary to pass this legislation. Considering the volatility in the food system since the 2018 Farm Bill was signed into law, family farmers need a farm bill that establishes a stronger farm safety net, builds fairer and more competitive markets, and creates better opportunities for the next generation of farmers. We are encouraged to see yesterday’s progress and look forward to working with the committees as they forge ahead.”
Criticism from Advocacy Groups:
Some advocacy groups have strongly criticized the bill. The Organization for Competitive Markets and Competitive Markets Action released a statement: “Chairman Thompson’s Farm Bill is exactly what we expected and is a direct reflection of the continued corruption in the swamp that has put countless American family farmers out of business decade after decade. The measure panders to industrial agriculture monopolies and would nullify countless state laws across the country that protect the last few remaining independent pork producers. This corrupt Farm Bill also fails to address the long-standing unethical practices we’ve seen in the USDA’s scandal-ridden Commodity Checkoff Programs. We will be lobbying with every resource we have to defeat it. Our producers would be better off with no new Farm Bill than the swamp released today.”
House Agriculture Ranking Member Criticism
House Agriculture Ranking Member David Scott released a critical statement following the unveiling of the partisan farm bill text by Agriculture Committee Republicans: “The discussion draft released by Chairman Thompson today confirms my worst fears: House Republicans plan to pay for the farm bill by taking food out of the mouths of America’s hungry children, restricting farmers from receiving the climate-smart conservation funding they so desperately need and barring the USDA from providing financial assistance to farmers in times of crisis. The economic impact of the SNAP cuts alone would be staggering. A $27 billion reduction in food purchasing power would increase hunger and reduce demand for jobs in the agriculture, transportation, manufacturing, and grocery sectors. Food has become a national security issue, as pointed out by experts at our recent hearing on China, and weakening our ability to feed the most vulnerable members of our communities is shortsighted and wrong. The Republican plan to eliminate the Agriculture Secretary’s CCC discretionary authority would tie the hands of our government to assist farmers during natural disasters and pandemics. The funding proposal that the Chairman has put forward does a disservice to American agriculture because it doesn’t provide a path forward to getting a bill passed on the House Floor.”
Support From Sierra Club Lands Protection Program Director
Sierra Club Lands Protection Program Director Athan Manuel said, “Senator Stabenow’s Farm Bill promotes climate-smart farming, expands nutrition programs, and protects our environment. We hope the House passes the Senate version. This bill will impact farming, food access, forestry, pollution, and climate for at least the next five years. We urge Congress to pass a forward-looking bill prioritizing family-sustaining jobs, small and mid-sized farmers, local food systems, and healthy communities. Stabenow’s framework achieves this. With significant investments from the Inflation Reduction Act, the Farm Bill can fight climate change and improve rural health, making a real difference in people’s lives.”
Read the summary of the bill here.
Photo by Tim Mossholder on Unsplash
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