Farm economics are in trouble right now. Profit margins are tight, and there is no relief in sight. Part of that problem centers around the fact that we still don’t have a new Farm Bill for a second year. Policies built on ten-year-old data still govern a farm economy that has changed a lot since then. This sometimes leaves farmers wondering if Congress is just waiting for it to fall back to those pre-2018 levels so they don’t have to change much writing.
Finally, members of Congress are working to get something done. It’s called the Farm Assistance and Revenue Mitigation Act, or the FARM Act. It aims to infuse about $20 billion into the ag industry to help give some certainty to farmers and ranchers. Farm CPA Paul Neiffer talks about it.
The Act focuses on eight different crops.
Unlike ARC & PLC, this program would not be based on base acres.
Neiffer says that he likes what he sees in the legislation.
