*NEW FPF Unscripted*
The Senate-passed budget reconciliation package, perhaps better known as the “One Big Beautiful Bill,” is well on its way through the U.S. Congress and lawmakers are aiming to have it to the President’s desk by July 4.
We here at Farm Policy Facts are excited to bring in the big guns – an expert on the facts, former Chief Economist of the Senate Agriculture Committee and now Executive Head of Terrain, Dr. John Newton. Dr. Newton’s vast experience in farm policy and economics has been a key tool in achieving many wins for farmers and ranchers – and why we were thrilled to have him join us on Farm Policy Facts’ Unscripted to discuss the farm economy, as well as the farm policy and tax policy provisions included in the Senate-passed reconciliation package.
As we’ve previously detailed, the budget reconciliation measure under consideration contains key provisions to provide a safety net for America’s farm and ranch families who have been facing a slew of challenges for years now: low commodity prices, high input costs, natural disasters, and more.
Producers have been loud and clear: ad hoc assistance has been a lifeline, but nothing comes close to the certainty and dependability that comes with a bolstered farm safety net.
“[Ad hoc assistance is] not dependable. You can’t count on it. You don’t know when it’s going to come, so you can’t really factor it into any of these financial decisions that folks are making around loan renewal time. So, again, making this investment [in the farm safety net], you get the certainty – you know when crop insurance is coming, you know when these Title One programs are going to deliver. If you’re doing an area-based plan of insurance, you know when that’s going to deliver. You don’t know that with ad hoc program,” Dr. Newton explained.
Senate Agriculture Committee Chairman John Boozman (R-AR) recently emphasized the importance of making these critical investments, stating, “If we fail to modernize the safety net, agriculture will see further consolidation as farm families leave the business, and the ripple effects to our country will be profound.”
Senate Majority Leader John Thune (R-SD) echoed the sentiment on the Senate floor. “Our bill updates the farm safety net to address some of the challenges farmers and ranchers have been facing. America’s farmers and ranchers have faced some serious challenges in recent years. Some of the toughest, in fact, in recent memory. I’m proud that we are addressing their needs in this bill,” said Leader Thune.
Dr. Newton summed it up well: “…We need to put more farm in the Farm Bill, and that’s exactly what they’re going to do in this big, beautiful bill.”
Watch the full Unscripted video below for more key insights on reconciliation, the farm economy, and more!
Need a Farm Bill refresher? Find a high-level, title-by-title history and overview of this crucial piece of legislation that impacts every American, from the field to the dinner plate here. Plus, learn about agricultural policy straight from America’s heartland on the Groundwork podcast.