Ag News

Bill to give economic relief for farmers introduced in Congress

On Oct. 25, Rep. Trent Kelly (R-Mississippi) introduced the bipartisan Farmer Assistance and Revenue Mitigation Act of 2024 (FARM Act), designed to provide revenue-triggered financial support to America’s farmers.

The FARM Act would help farmers when their revenue falls below the cost of production due to circumstances beyond their control. Congressman Kelly emphasizes that this bill will help keep farms in operation during this challenging time.

The bill drew support from a variety of farm organizations, including the American Farm Bureau Federation, American Soybean Association, National Association of Wheat Growers, National Barley Growers Association, National Cotton Council, National Corn Growers Association, National Sorghum Producers, National Sunflower Association, U.S. Canola Association, U.S. Peanut Federation, USA Dry Pea & Lentil Council, USA Rice, and Western Peanut Growers Association.

The FARM Act would assist farmers growing a wide range of crops, including barley, corn, cotton, soybeans, wheat, and many others. The payment amount will be 60% the economic loss for the eligible commodity multiplied by the number of eligible acres of such eligible commodity on the farm.

This legislation is a lifeline for farmers struggling to meet rising costs and navigate a difficult market. As Congress debates longer-term solutions in the 2025 farm bill, the FARM Act delivers immediate help to the farming community.

The bill was submitted with 56 cosponsors, including Georgia Reps. Sanford Bishop (D-2nd District), Rick Allen (R-12th District), Austin Scott (R-8th District) GA), Mike Collins (R-10th District), Buddy Carter (R-1st District), and Marjorie Taylor Greene (R-14th District).

To read the bill, click here.

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