Recent projections by the U.S. Department of Agriculture indicate a significant decrease in net farm incomes, dropping from $156 billion in 2023 to $116 billion this year, marking a roughly 26% decline. This has sparked a response from various members of Congress, emphasizing the urgency of passing a strong Farm Bill to provide relief for farmers and strengthen rural communities. Representative Feenstra highlighted the importance of supporting young producers through the Crop Insurance for Future Farmers Act, which aims to lower crop insurance costs for the next generation of farmers. Criticism has been directed towards the current administration for prioritizing environmentalist policies over the agricultural sector, with claims that such policies have contributed to the income decline and are part of the negative impact of 'Bidenomics'. The House Agriculture Committee GOP members have also pointed out the potential for the largest agricultural trade deficit ever under the current administration, underscoring the need for access to trade markets for farmers to survive and thrive. USDA's own data expects farm income to fall by nearly $40 billion from last year.
.@RepJimBaird is right. The #FarmBill's conservation programs work best when they are locally led, voluntary, and incentive based.
USDA's own data expects farm income to fall by nearly $40 billion from last year to $116 billion. This follows a $29 billion decline from the year before. @RepFinstad points out the last time farm income fell two years in a row USDA was also led by @SecVilsack. https://t.co/BOVHmkr0vE
USDA's own data expects farm income to fall by nearly $40 billion from last year to $116 billion. This follows a $29 billion decline from the year before. @RepFinstad points out the last time farm income fell two years in a row it was also led by @SecVilsack. https://t.co/IFBqfcHW2c
.@RepFeenstra is right: Farmers need access to trade markets to survive and to thrive. Biden has turned his back on agricultural trade and we're on track for the largest agricultural trade deficit ever. https://t.co/mPRC0DQVgo
While @SecVilsack praises the impact of #Bidenomics, the reality is much more grim: USDA’s own data last week forecasted net farm income to fall by nearly $40 billion from last year to $116 billion. This follows a $29 billion decline from 2022 to 2023.
A #FarmBill is the best opportunity for Congress to course correct and to revitalize the rural communities that are the backbone of our nation. https://t.co/D3e5piymrl
My Crop Insurance for Future Farmers Act will help combat this crisis by lowering the cost of crop insurance for our young farmers. We must support the next generation of #IA04 farmers so that our rural communities stay strong & our country remains the breadbasket to the world. https://t.co/qjQmrJbWyW
For the second year in a row, USDA farm income estimates show deep declines. While Biden appeases environmentalists at every turn, farm income has dropped by almost HALF in two years. It’s time he prioritizes farmers who ensure we have food on our tables. https://t.co/TWRzck1lfp
Following reports that net farm incomes are projected to drastically fall this year, it is even more urgent that we help our young producers succeed. My Crop Insurance for Future Farmers Act will help lower the cost of crop insurance for the next generation of #IA04 farmers.
Too often, our small towns are overlooked, and I’ve made it my mission in Congress to put them first. That’s why I’m introducing bipartisan legislation to strengthen rural communities by generating jobs and creating new opportunities. https://t.co/C81NO1lnDr
According to the U.S. Department of Agriculture, net farm incomes are projected to fall from $156 billion in 2023 to $116 billion this year — a roughly 26% decrease. That's why we must pass a strong Farm Bill as soon as possible to deliver relief for our farmers and producers.