$709 Billion Farm Bill Will See a Budget Increase, According to G.T. Thompson
The 2023 farm bill is projected to cost $709 billion, based on estimates from the Congressional Budget Office released in February. But, will that price tag be enough to feed Americans and ensure U.S. ag remains competitive in world markets? Not all congressmembers are convinced. And they're putting their foot down on the matter now.
Additional farm bill funding will be made available, according to House Ag Chairman G.T. Thompson (R-Pa.) who shared the news at a crop insurance agents’ event (CIPA) in Kansas City.
Thompson did not specify how much additional funding but was very complimentary of House Speaker Kevin McCarthy (R-Calif.), mentioning how the speaker participated during a California-based farm bill listening session. During the chairman’s presentation to CIPA, he was passionate about getting a farm bill done, but acknowledged several hurdles that he said could be overcome in a bipartisan approach.
Other options to providing more than baseline funding for the farm bill include clawing back some of the unspent COVID-19 relief funding and restrictions on use of Commodity Credit Corporation (CCC) Charter Act funding.
