Congress is preparing to pass the 2023 Farm Bill or file an extension before its Sept. 30 deadline. There is no consensus on the bill’s size in relation to the 2018 version, making it difficult to determine if policy changes are feasible. A budget target is crucial for dealmaking, as it provides the foundation for a completed bill.
Rep. Mike Bost, a Republican from southern Illinois, hopes for a bill that keeps costs in line with recent years, but acknowledges that it will be more expensive due to higher food costs and shifting crop prices. Bost also believes Congress should raise reference prices for crop support programs, but this may be difficult as some representatives increase pressure to reduce government spending. Some hope the new bill will boost support for environmental programs, such as paying farmers to develop land conservation plans and incentivizing practices like cover crops to promote soil health.
Michael Happ from the Institute for Agriculture and Trade Policy believes that strengthening conservation policies could give farmers the tools to be more resilient. However, meaningful policy changes may depend on a bigger farm bill, which is uncertain.
If Congress fails to pass a new bill by Jan. 1, 2024, some programs would revert back to 1940s-era policy, driving up consumer prices. A delayed farm bill is also hurting farmers by injecting uncertainty into payment supports and disease monitoring programs, turning them more and more into an unstable part of a farmer’s income stream.
