Senate Ag Committee
House Ag Committee Chairman G.T. Thompson, along with other members, is seeking additional funding sources for the bill, but that will likely be the biggest farm bill hurdle that may trip up lawmakers.
While Sen. McConnell says the budget has little give, Sen. Boozeman has consistently said he will not support a farm bill that doesn’t provide an increase in the Price Loss Coverage (PLC) program’s reference prices.
It’s not as simple as you might think. House Ag Chair G.T. Thompson shares a rundown of the funding and extension processes. He says the ag committees need to find new dollars to expand the farm bill budget.
Senate Ag Chair Debbie Stabenow, (D-Mich.) says there will be no new funding for the 2023 farm bill. However, Stabenow stressed she will not allow a cut in conservation funding.
The Senate and House Ag committees are facing delays in drafting the next farm bill, and it is expected to be the most expensive farm bill to date, clocking in at around $1.5 trillion.
Rep. Thompson signaled he wants to hear “commitment from everyone, including the president, that we will get this done and in the manner I’ve been speaking about. Bipartisan, bicameral, on time and highly effective.’”
Lenders In the hearing seemed to agree on a boost to lending limits in USDA guaranteed loans as lawmakers ready for the next farm bill.
“The prioritization of resource concerns must be left to the local level where producers decide how they can best address their unique and varied landscapes and needs,” said Sen. John Boozman.
SNAP, which historically receives the greatest amount of farm bill funding, will see an 82% increase of a quarter-trillion-dollars.
The House will take the reins in writing farm bill 2023. House Ag Chairman Thompson says the pen is “firmly” in his hand, with few tweaks to be made from 2018. The Senate says their version is nearly complete.