Pulaski Times

Following the release of the USDA's Economic Research Service 2024 Farm Sector Income Forecast, key figures in U.S. agriculture have voiced concerns about the state of American farming. John Boozman, Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, along with Glenn "GT" Thompson, Chairman of the U.S. House Committee on Agriculture, issued a joint statement addressing these issues.

The statement highlighted that the 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." It pointed out significant financial losses faced by row crop producers from 2023 to now, amounting to over $50 billion. The forecast suggests further potential losses next year.

Boozman and Thompson emphasized that "immediate action is required to stabilize the farm economy and prevent a crisis that will only become more costly to address over time." They called for reauthorizing a five-year farm bill with improvements to safety nets as crucial steps toward providing certainty for producers.

Additionally, they urged Congress to deliver substantial economic aid to those most affected by current challenges. The statement concluded with a call for Congress to fulfill its promises and secure "the future of American agriculture."