House ag passes budget views and estimates letter |

House ag passes budget views and estimates letter

The Hagstrom Report |
The House Agriculture Committee on March 9 passed a budget views and estimates letter for fiscal year 2024 that asks for more money for the farm bill but does not ask for a specific amount.
The committee approved the letter unanimously by voice vote.
The Hagstrom Report |
“The committee’s budget views and estimates letter outlines a clear, bipartisan blueprint to invest in the hardworking men and women of American agriculture — the folks who work 365 days a year to feed and fuel our nation,” House Agriculture Committee Chairman Glenn “GT” Thompson, R-Pa., said in a news release.
”While additional funds are necessary, there is no piece of legislation that provides a better return on investment than the farm bill,” Thompson said.
“In the wake of record inflation, a global pandemic, and geopolitical turmoil, American farmers, ranchers, foresters, producers, and consumers are suffering. The best way to support them is to pass an effective, bipartisan, and timely farm ill, and the letter considered today provides a sensible path forward.”
The letter says that the programs under the committee’s jurisdiction amount to a “modest investment” that results in “more than 43 million jobs, $2.3 trillion in wages, $718 billion in tax revenue, $183 billion in exports, and $7.4 trillion in economic activity.”
The letter says, ”Due to the ineffectiveness of the existing farm bill safety net, Congress has returned to the cycle of providing unbudgeted ad hoc assistance for both weather and market related disasters, totaling $93.3 billion over six years …”
“With adequate resources, the committee believes it can craft an improved safety net that takes the pressure off policy makers to intervene every time a market or weather-related disaster strikes. This will provide stability to the agricultural economy and give the House Committee on the Budget a more accurate assessment of the true cost of farm policy.”
The letter will be sent to House Budget Committee Chairman Jodey Arrington, R-Texas.
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