Senator John Boozman (R-AR) currently the ranking member of the House Agriculture and Forestry Committee has called for “significant economic assistance” for farmers.  This is based on falling prices for commodities with concurrent increases in production costs. In support of economic assistance Senator Boozman stated, “Federal assistance must support agriculture and producers facing market losses and it needs to happen quickly.”

The 2023 Farm Bill has been delayed in both the House and Senate Agricultural Committees due to conflict in a closely divided Congress on the issues of price support, SNAP payments and eligibility.  Republican members of Committees in both chambers urged transfer of funds from social programs and environmental remediation to farm support with strong opposition from their Democratic colleagues leading to gridlock.

With the prospect of increased tariffs, especially on China and even our USMCA partners Canada and Mexico, all segments of agriculture will be at risk for falling prices and hence lower margins. 

Representative Glenn Thompson (R-PA) recently released the House version of the Farm Bill containing provisions for commodity support that according to the non-partisan Congressional Budget Office would sharply increase the national debt.