Both the Senate and House Ag Committees released section-by-section outlines of the proposed 2024 Farm Bill on May 1.
House Ag Committee Chairman Glenn "GT" Thompson (R-Pennsylvania) released a detailed overview of the bipartisan policies and priorities included in the 2024 Farm Bill. The House proposal includes 12 main titles under which specific ag policies are listed. These titles range from Commodities, Trade and Conservation to Energy and Rural Development. This topic framework is reflected in the Senate’s proposed Rural Prosperity and Food Security Act, introduced by Senate Ag Committee Chairwoman Debbie Stabenow (D-Michigan).
Some points of both proposals that impact the beef industry include:
- Increased support for the Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC) programs and enhanced disaster assistance
- The continuation and enhancement of working lands conservation programs like the Environmental Quality Incentives Program (EQIP) and the Conservation Stewardship Program (CSP), modernizing the Conservation Reserve Program (CRP) and (House proposal only) reauthorizing funds for feral swine eradication
- Enhanced financing options for producers who are unable to obtain credit from a commercial lender and resources for new, young, beginning and veteran farmers in their transition to farming and ranching
- Broadband connectivity, access to health care, childcare and employment opportunities in rural communities
- Guidance documents and other resources for small and very small meat and poultry processing facilities
- Allowing livestock auction owners to invest in packing facilities
- Directs the secretary of agriculture to work in consultation with the U.S. trade representative to negotiate animal disease regionalization agreements with our trading partners, along with requiring the secretary to conduct regular assessments to identify risks and security vulnerabilities to the food and agriculture critical infrastructure sector
- Reforms certain reporting requirements under the Agriculture and Foreign Investment Disclosure Act (AFIDA) to ensure accuracy and transparency of data on farmland owned by foreign persons or entities
Both proposals were welcomed by industry groups, with the House bill especially receiving applause for using input from cattle producers to shape the legislation. Although the proposed Senate bill does share many similar priorities and provisions, it does include some concerning requirements regarding methane emissions reporting that would negatively impact cattle producers.
The next step will include developing both bills into full legislative documents with fleshed-out details and will require significant negotiation efforts from both sides of the aisle to reach an agreement.
Thompson announced the House committee would mark up their framework May 23. The Senate proposal is expected to follow suit.
