ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Ag Banking

Bipartisan legislation introduced to increase investment in ag innovation

April 5, 2023
Reading Time: 2 mins read
Bipartisan legislation introduced to increase investment in ag innovation

Bipartisan legislation was introduced in the U.S. House and the Senate to foster innovative agricultural research and development at the U.S. Department of Agriculture.

The Advancing Cutting Edge Agriculture Act was introduced by Reps. Jimmy Panetta (D-Calif.) and Randy Feenstra (R-Iowa). According to the lawmakers, the act would “bolster the agricultural leadership of the United States, strengthen American and global food supplies and help producers tackle 21st century agricultural challenges from pathogens and pests, high fertilizer prices, drought, poor soil health and extreme weather.”  Sens. Michael Bennet (D-Colo.) and Roger Marshall (R-Kan.) introduced companion legislation in the Senate.

The 2018 Farm Bill established the Agriculture Advanced Research and Development Authority at USDA to fill this gap and invest in high-risk, high-reward research and development in agriculture and food.

Investing in the development of novel agricultural technologies, approaches and data systems are frequently too technically and financially risky for private capital, lawmakers said. At the same time, advanced research and development is often left out of the priorities of existing USDA research programs, which leads to prioritizing lower-risk projects that reliably deliver incremental progress.

The act would double the authorization of the existing program from $50 million to $100 million to ensure access to agricultural innovation projects across multiple states. It also would expand the existing program’s scope to address animal and plant pathogens and pests, which could help farmers increase production capacity and competitiveness. It addition, it would provide opportunities for projects that could help farmers and ranchers use less water; enhance soil health; and mitigate, reduce, and/or sequester greenhouse gas emissions from farms and ranches.

“Our farmers face an evolving set of challenges and need new, groundbreaking agricultural technologies, approaches, and data systems to continue to survive, provide and thrive,” Panetta said. “For our farmers to continue to compete, they need to be equipped with cutting-edge tools that will push both American and global agriculture forward.”

Feenstra said continued investment in agricultural research and development is “vital to the success of our family farmers.”

 

Tags: InnovationRural bankingUSDA
ShareTweetPin

Related Posts

Podcast: From tractors to drones, how farming tech affects ag lending

Podcast: From tractors to drones, how farming tech affects ag lending

ABA Banking Journal Podcast
October 16, 2025

Amid the "right to repair" movement, the issue of fast-rising farm equipment costs is top of mind for ag bankers, says Missouri banker Pat Kussman.

Daily, Kerrigan to receive ABA agricultural banking awards

Daily, Kerrigan to receive ABA agricultural banking awards

Ag Banking
September 30, 2025

ABA will honor Kathy Daily, managing director of First Financial Bank in Louisville, Kentucky, with the Bruning Award and Patrick Kerrigan, vice president of business development at Farmer Mac, with the Blanchfield Award at the ABA Agricultural Bankers...

ABA Ag Committee chair shares thoughts on the current state of ag lending

ABA Ag Committee chair shares thoughts on the current state of ag lending

Ag Banking
September 18, 2025

Caleb Hopkins discusses the most pressing issues currently facing ag lenders and how they can better position themselves to assist their farmer, rancher and agribusiness clients.

Mastering commodity prices: Creating an all-inclusive strategy for livestock producers and their lenders

Mastering commodity prices: Creating an all-inclusive strategy for livestock producers and their lenders

Ag Banking
September 17, 2025

Banks can help equip their ag borrowers with the knowledge and tools to execute goal-oriented risk management plans that focus on discipline, communication and effective measurement of risk and reward.

Farm Credit returns excess insurance funds to system banks

Experts outline pitfalls and best practices in managing ag loan risk

Ag Banking
September 10, 2025

Experts address agricultural lending disputes from the past year to provide insight into common pitfalls, practical solutions to resolve disputes and best practices for managing risk in agricultural loans.

ABA banker: Long-term Farm Bill would boost ag economy

ABA banker: Long-term Farm Bill would boost ag economy

Ag Banking
July 16, 2025

The agricultural provisions in the recently enacted budget reconciliation bill will provide a strong backstop for agricultural producers, but a long-term Farm Bill is still needed, Clint Hood, SVP for Synovus Bank in Dublin, Georgia, told House lawmakers.

NEWSBYTES

Asbury ‘energized’ to keep fighting for banking industry

October 20, 2025

ABA, associations urge Trump administration to retain CDFI Fund staff, funding

October 20, 2025

ABA invests in AI-powered data integration platform

October 20, 2025

SPONSORED CONTENT

Cash, Security, and Resilience in a Digital-First Economy

October 20, 2025
Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

October 1, 2025
What good looks like in Small Business Lending – and how to get there

What good looks like in Small Business Lending – and how to get there

October 1, 2025
The Connectivity Dividend

The Connectivity Dividend

September 1, 2025

PODCASTS

Podcast: From tractors to drones, how farming tech affects ag lending

October 16, 2025

Podcast: Bigger data boosts financial inclusion at Synchrony

October 9, 2025

Podcast: AI and the future of BSA risk management

October 2, 2025

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.