Feenstra

After years of inflation, high interest rates, increased energy costs, trade uncertainty, and bureaucratic red tape, the outlook for the farm economy is bleak. U.S. farmers and producers continue to face drops in farm income, regulations like WOTUS still pose the threat of punitive and costly fines, and inflation has made the cost of doing business more expensive and forced producers to delay new equipment purchases. This combination of poor economic conditions, government overreach, and repeated failures by the Biden-Harris administration to foster new trading relationships poses a recipe for disaster for the American farm economy if left unaddressed. That’s why we need to pass the Farm Bill as soon as possible to deliver relief and certainty for the hardworking men and women who feed and fuel our country and the world.

More than 115 days ago, Republicans on the House Agriculture Committee – along with four of our Democratic colleagues – did just that. We passed the Farm, Food, and National Security Act of 2024 – also known as the Farm Bill – out of committee well before the September 30th expiration of the one-year extension of the 2018 Farm Bill Congress approved last year. Regrettably, Senate Democrats did not exercise the same foresight that House Republicans did. Over the last several months, Senate Democrats have done nothing to get the Farm Bill passed and signed into law. In fact, they haven’t even introduced an actual bill to help kickstart negotiations. It unfortunately appears that they are fine with another extension even if it means unnecessary struggles and uncertainty for Rural America.

While the Democrats have decided to play politics with our farm, food, and national security, Republicans wrote a Farm Bill that incorporates and prioritizes the suggestions and needs of our farmers, producers, and rural communities.

Among many important provisions, we strengthened crop insurance and increased reference prices to address the negative impacts of low commodity prices and persistent inflation. Our Farm Bill boosts crop insurance protections by over $50 billion to secure this risk-management tool for farmers and increases reference prices for a wide range of commodities grown in the United States. For example, corn receives a $0.40 increase from $3.70 to $4.10 and soybeans get a hike of $1.60 from $8.40 to $10. With corn well under $4 and beans under $10, these increases in reference prices – which are long overdue since passage of the 2018 Farm Bill – are vital to help farmers, especially our new and beginning producers, manage the downswings in the farm economy.

The Farm Bill also includes my legislation – the Crop Insurance for Future Farmers Act – which seeks to lower the cost of crop insurance for young and beginning farmers who are just starting to plant their roots in agriculture. These provisions would also apply to veterans who want to farm. Under this proposal, producers would receive a 15% discount on their federal crop insurance plan during their first two years in operation, 13% in their third year, 11% in their fourth year, and finally 10% from their fifth through their tenth year in business. This amendment to federal law will encourage young people to pursue a career in agriculture and ensure that our farmland stays in the hands of our farmers – not China or any of our other foreign adversaries.

We also worked to grow new export markets so that farmers can sell their products in more locations across the globe – creating more revenue streams for agriculture. In the realm of trade agreements, the Biden-Harris administration has pretty much failed America’s farm families. Instead of waiting for this administration to help our farmers, our Farm Bill doubles funding for the Market Access Program (MAP) and the Foreign Market Development Program (FMD) to promote American-grown and -raised products in countries around the world, establish trading relationships with new and emerging markets, and put more money in our producers’ pockets. The Farm Bill also includes my Fortifying Refrigeration Infrastructure and Developing Global Exports (FRIDGE) Act. This bill fixes a rather glaring gap in our trading framework by committing resources to refrigeration infrastructure, cold-chain storage, and port improvements both domestically and internationally to help American farmers ship their perishable goods and commodities worldwide. This investment will not only open new markets for American agriculture, but also build demand for our products amid low commodity prices.

Additionally, our Farm Bill is a victory for America’s cattle producers who have long faced unfair and inaccurate reimbursement rates from the Livestock Indemnity Program (LIP), which administers payments to producers who lose cattle to extreme weather, animal disease, and wildlife. Based on my bill with Senator Mike Rounds of South Dakota, the Farm Bill would cut the timeframe for payment rate adjustments from the LIP down from annually to every three months so that our producers and their families receive a fair and accurate price for their livestock when severe storms strike or animal disease spreads. This is an important step to ensure that our cattle producers have the peace of mind that comes with correct and timely payments to keep their operations profitable, successful, and if applicable, in the family.

By no means is this an exhaustive list of the wins that Republicans on the House Agriculture Committee secured for America’s farmers and producers, but it does represent the importance of passing a Farm Bill this year. Low commodity prices, falling farm income, and a growing agricultural trade deficit are just a few examples of why we need action. I will continue to be a strong voice for agriculture and urge my colleagues – especially those in the Senate – to get this bill over the finish line for the good of our farmers, economy, and national security.

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Randy Feenstra, a Republican from Hull, represents Iowa’s Fourth District in the U.S. House.