Even though House Ag Chairman Glenn “G.T.” Thompson has said that a new Farm Bill will be introduced “without a doubt” by Memorial Day, the Ranking Member of the Senate Ag Committee says he wants to make sure the Farm Bill is done right.
Senator John Boozman (R-AR) says he wants a new Farm Bill to be able to meet the needs of America’s farmers over the next five years.
“To commit our farmers—not just one year, but a five-year contract—because we take this very seriously in Congress. Once we set this, then it is a contract with our farmers. We don’t allow other entities like Transportation to ‘steal’ the money. Again, it is a contract, so we’ve got to get it right,” he says.
With so many changes to the economy since the last Farm Bill was passed in 2018—including a rise in inflation and interest rate hikes—Boozman says that the risk management component is very important.
“The Farm Bill to me, the first thing you got to get in order, in place, is making sure that the risk management tools are there so that our farmers can go the bank, borrow the money that they need, and know that they’re taking huge risks, but at least there is a bottom to that risk, and that’s through crop insurance, ARC, PLC, programs like that,” he says.
He adds that ag trade is another important aspect of a new Farm Bill.
“Certainly risk management, crop insurance, increasing reference prices, things like that are right at the top. But also, trade, trade is the lifeblood of agriculture. Last year, we had essentially the first time in 50 years, we had a trade imbalance in agriculture. That’s always the bright star. So, we need to do a much better job with trade. These countries are begging us, nobody wants to put all their eggs in the China basket anymore, and so, there’s a lot of opportunities, but to be honest the administration simply not following through,” says Boozman.
