Agriculture

After years of inflation, high interest rates, increased energy costs, trade uncertainty, and bureaucratic red tape, the outlook for the farm economy is bleak. U.S. farmers and producers continue to face drops in farm income, regulations like WOTUS still pose the threat of punitive and costly fines, and inflation has made the cost of doing business more expensive and forced producers to delay new equipment purchases.

There are many reasons to pass the Farm Bill this year. Prices for corn, soybeans, and other commodities have fallen well below producers’ break-even point, over 100 million birds – including turkeys, broilers, and layers – have been infected by bird flu since 2022, and net farm income is estimated to fall by $10.2 billion this year alone. Inflation also remains a painful tax on our farmers who already face unnecessary and punitive red tape like WOTUS and looming expirations on important pro-growth tax provisions in 2025.

In a major blow to Iowa farmers and biofuel producers, the Environmental Protection Agency (EPA) recently announced that it expects to finalize biofuel blending volumes for 2026, 2027, and 2028 at the end of 2025 – more than a year after federal law requires. This decision will have far-reaching implications for the agriculture and biofuels industry that both support hundreds of thousands of jobs in Iowa and strengthen American energy security while lowering gas prices for American families.

When severe storms strike or deadly animal disease spreads, cattle producers in Iowa and nationwide need a safety net that they can depend on. During economic downturns, our farmers deserve a fair price for their deceased livestock. Through local Farm Service Agency (FSA) offices, farmers often enroll in the Livestock Indemnity Program (LIP) – an important tool that helps deliver economic relief to producers and their families who have been impacted by adverse and unpredictable events that cause cattle deaths and financial losses.

Agriculture is the backbone of our economy in Iowa. This vital industry supports over 810,000 jobs, creates more than $50 billion in total wages, and generates more than $250 billion in economic output – just in Iowa alone. These economic benefits also extend to our main-street businesses and our families, which keep our rural communities strong and make rural Iowa a great place to live, work, and raise a family.