Chairman of the House Agriculture Committee, Glenn “GT” Thompson (PA-15), delivered the following opening remarks at today’s full committee hearing on the financial conditions in farm country:
Remarks as prepared for delivery:
Good morning. I’d like to welcome you all to today’s hearing on the state of the farm economy. I would like to extend a special welcome and thanks to our witnesses. The panel we’ve convened will share their insights and personal experiences on the deteriorating financial conditions facing producers and the agricultural supply chain.
Agriculture is not just an industry; it is the backbone of our economy and a cornerstone of our national security. American farmers, ranchers, and the supply chain they rely on work together tirelessly to feed and clothe our nation and the world while providing more than 48 million jobs.
Despite their resilience and ingenuity, the unprecedented challenges facing the entire agricultural sector threaten to ignite another farm financial crisis. Declining prices and cash receipts, escalating natural disasters, and increasing input costs have created a perfect storm that will compromise the foundation of our agricultural economy. We are living through the largest two-year decline in farm income in history. At the end of 2024, total farm sector debt will be the highest the U.S. has seen since at least 1970. Most farmers and ranchers, including those here with us today, are likely to be worse off financially by years’ end.
Unfortunately, the farm safety net that is meant to provide our farmers and ranchers with stability during these times has not seen significant investment since 2002.
In fact, the resources dedicated to the total farm safety net have declined 30 percent over the last 22 years. The commodity title alone has seen an 81 percent reduction in spending power during that same time.
Simply put, the lack of support for those that feed the world is unacceptable.
That’s why this committee listened to communities across the country, and passed the bipartisan Farm, Food and National Security Act of 2024 two months ago. It represents the largest permanent investment in the farm safety net, conservation, trade promotion, specialty crops, research, and livestock biosecurity in more than two decades. It will give renewed strength to the farm safety net just when producers need it most.
There are a few pundits that have taken the last few months to spread misinformation about this committee’s bipartisan product in an attempt to sow division. Let me be clear; this is a farm bill that provides significant improvements for all producers. The legislation was drafted under the principle that we would deliver what America’s producers need; no more, and certainly, no less. As a result, it looks different from state to state and from farm to farm. The policy changes this Committee made were targeted to provide the greatest return on investment possible so that all producers will be better off. The bill passed out of this committee is an investment in the future, not a venue for empty relitigating of fights from the past.
But if folks do want to discuss the past, here are the facts: the 2002 farm bill was the last farm bill to invest in commodity programs. The Democrat led 2008 Farm Bill CUT money out of crop insurance while investing in conservation and nutrition programs. Because of a deficit reduction exercise, the 2014 Farm Bill saw commodity programs cut by over 30 percent, while conservation and nutrition were left relatively unscathed. Finally, since the enactment of the 2018 Farm Bill, Democrats in Congress unilaterally added billions to climate and conservation programs, and the current Administration added one-quarter of one trillion dollars to nutrition programs, all while ignoring the farm safety net. The romanticized “farm bill coalition” often talked about is a one-sided, partisan talking point. Producers are constantly reminded of hundreds of billions of dollars of SNAP and climate spending, and reprimanded when they seek any level of parity.
I will not apologize for advancing a bill that seeks to put the farm back in the farm bill.
I am tired of the politics and gamesmanship, and I know folks out in the countryside are, too.
Unfortunately, throughout this process I have been saddled with a meddling Senate Democrat and others who do not seem to appreciate the dire circumstances in farm country. As recently as last week, House Ag Committee Democrats expressed a preference to see a bill fail before engaging. So, I will say again: if there are members on the other side of the aisle that truly want to see a farm bill come to fruition this year, my door remains open to negotiation from any partner willing to come to the table with a serious proposal, not more red lines.
And for those who believe the only path forward with the time we have remaining in this Congress is an informal pre-conference negotiation with the Senate, that is not my preferred option, but it is one I am willing to entertain. However, I cannot reconcile nor negotiate a bipartisan 900-page bill with a partisan 90-page summary. For that to be viable, Chairwoman Stabenow needs to unveil her bill text.
I hope that after listening to our guests today everyone in this room and watching across the country will understand the urgency by which we must act. For the first time in a long time, this committee has the chance to be proactive instead of reactive, to prevent disaster for our producers rather than picking up the pieces afterward with ineffective and inefficient ad hoc support, and to establish a foundation for the future of the farm economy. Let’s not waste that opportunity.
With that I yield to the Ranking Member.
