Keystone Today

Following the release of the USDA's Economic Research Service (ERS) 2024 Farm Sector Income Forecast, concerns have been raised by key members of Congress. House Committee on Agriculture Chairman Glenn "GT" Thompson and Senate Committee on Agriculture, Nutrition, and Forestry Ranking Member John Boozman issued a joint statement addressing the current state of the agricultural sector.

The statement highlighted significant challenges faced by farmers and ranchers in the United States. "Today’s farm income update underscores what Agriculture Committee Republicans in the House and Senate have warned about for two years: America’s farmers and ranchers are in serious trouble, and the outlook remains grim," they stated. According to their assessment, row crop producers alone have suffered losses exceeding $50 billion from 2023 to today, with expectations of further losses next year.

Thompson and Boozman emphasized the need for immediate action to stabilize the farm economy. They called for reauthorizing a five-year farm bill with improvements to the safety net as a critical step toward restoring certainty for producers. Additionally, they urged Congress to provide substantial economic aid to those most affected by these challenges.

In their concluding remarks, they expressed that "America’s farmers and ranchers deserve better," urging Congress to fulfill its promises and secure the future of American agriculture.