January 21, 2020

Farm Bill; Budget Issues; and, the Ag Economy

Farm Bill

Christopher Doering reported in yesterday’s Des Moines Register that, “Congress gave farmers a brief reprieve with a nine-month farm bill extension as part of the recent ‘fiscal cliff’ negotiations, but the relief could be short-lived if the fights looming in Washington on spending force deeper cuts in agriculture programs.

“The bare-bones extension keeps many of the existing farm programs in place, including direct payments and crop insurance. But Congress must now work on crafting a new five-year $500 billion farm bill, a task complicated by growing calls in Washington to reduce spending. In the next few months, Congress will have to address increasing the country’s debt ceiling along with the looming sequestration, the name given to the series of automatic spending cuts that would take place on March 1 unless Washington acts.”