Congress urged to pass farm bill amidst agriculture crises
As the deadline approaches for Congress to pass a new farm bill, over 300 agricultural organizations, including the American Farm Bureau Federation, have urgently communicated the necessity for action to Senate and House leaders.
The groups emphasized the need for a modernized farm bill, stating that “farmers and ranchers are facing multiple years of operating in the red, which threatens their ability to continue farming.”
They pointed out the myriad challenges faced by producers, including extreme weather, soaring input costs, unstable global demand, and supply chain issues.
The impact is stark, with the U.S. Department of Agriculture (USDA) forecasting a dramatic $55.61 billion drop in inflation-adjusted net farm income for 2024—over a 27% decrease from 2022 levels.
Additionally, the prices for major crops have fallen by an average of 21% since the start of the year, while production costs remain high.
Since the 2018 farm bill, farmers have faced numerous hardships, including a pandemic, global unrest, a trade war with China, and ongoing supply chain disruptions.
USDA projects that farm sector debt will reach nearly $541 billion in 2024, marking the highest inflation-adjusted level in over 50 years.
The letter from the agricultural organizations acknowledges the efforts of committee leaders in drafting a new farm bill and recognizing the vital role farmers play in providing food, feed, fuel, and fiber. It urges Congress to act before the year ends to bolster farm policy.
The letter warns that failing to pass a new bill with significant investments in commodity programs and crop insurance or opting for a mere extension of the current law—could leave many family farms without the means to continue operations in 2025 and beyond.