The House today voted 224-200 in favor of its version of the Farm Bill, sending the legislation to the Senate.
The last Farm Bill was passed in 2018, with Congress twice extending the legislation past its five-year duration. The law sets national agriculture, nutrition, conservation and forestry policy, and serves as an important safety net for farmers and ranchers.
The Senate will seek numerous changes to the bill, kicking off possibly months of negotiations between the two chambers. (Read a Q&A with American Bankers Association experts about Farm Bill negotiations.)
In a statement, ABA President and CEO Rob Nichols thanked the House for passing the bill, calling it critical legislation that supports farmers, ranchers and rural communities across the country.
“The Farm Bill includes important policy reforms that enhance credit availability, strengthen risk management, and improve lending programs for producers facing rising costs and uncertain markets,” Nichols said. “We also appreciate provisions that modernize Farm Service Agency loan guarantee limits, improve beginning farmer programs, update the Farmer Mac statute and create opportunities for faster access to credit when it is needed most.
“We urge the Senate to complete its work on the Farm Bill so Congress can provide the long-term certainty and stability that America’s agricultural economy depends on,” he added.
