The outcome of the 2024 General Election is set to bring significant changes to the agricultural landscape, according to at least one ag expert.
With Donald Trump returning to the presidency, new dynamics will unfold, especially in the U.S. Senate, where pivotal shifts are already affecting the agriculture sector. That, according to Ethan Lane, Vice President of Government Affairs for the National Cattlemen’s Beef Association, who emphasized the importance of these changes.
“The margin in the popular vote total is going to be incredibly impactful,” Lane said, highlighting that a Republican sweep could have widespread implications. In particular, the defeat of key Democratic senators like John Tester in Montana signals a change in direction. This shift is likely to bring fresh Republican perspectives to agricultural policy, aligning more closely with rural and cattle industry interests.
One pressing area is regulatory overreach. Lane mentioned how federal agencies have traditionally had considerable freedom in their interpretations of congressional intent. He pointed to a recent case, the Loper Bright decision, which has limited the leeway these agencies have.
“That is going to really hang like a cloud over this new administration as it comes in and starts to contemplate,” he explained. This could mean that federal agencies face more restrictions when enforcing environmental regulations, such as those under the National Environmental Policy Act.
Tax relief for farmers and ranchers is another priority. Lane emphasized the importance of preserving the 2017 tax reforms, which are set to expire in 2025. “We’re an industry that is land rich and cash poor,” he noted, stressing that maintaining these tax benefits is crucial for farm transitions and financial stability.
With the farm bill still unresolved, agricultural stakeholders are watching closely. Lane expressed optimism about the farm bill, emphasizing that it has strong bipartisan support and is ready to move forward. He praised House Agriculture Committee Chairman G.T. Thompson for his extensive work and urged that the bill be passed, whether during the current lame-duck session or early in the new administration.
