My weekly column: My bill to lower the cost of crop insurance for young farmers is being implemented at USDA
On Wednesday August 20th, the U.S. Department of Agriculture (USDA) announced that it would begin to formally implement legislation that I introduced to lower the cost of crop insurance for the next generation of Iowa farmers and producers. My bill – the Crop Insurance for Future Farmers Act – was included in President Trump’s “One, Big, Beautiful Bill” that was signed into law on Independence Day and marked the largest investment in the farm economy in decades. With this bold and rapid action spearheaded by U.S. Secretary of Agriculture Brooke Rollins, beginning and young farmers and producers will benefit from more accessible and more affordable crop insurance policies, protecting them from unforeseen financial losses caused by severe weather and animal diseases through no fault of their own.
Back in 2023, I consulted with my 60-member Agriculture Advisory Board about how we could work together to keep Iowa agriculture strong. Among many topics and suggestions discussed, an overwhelming majority supported greater investments in the next generation with a particular emphasis on lowering the financial barriers to entry into the agricultural sector. One way that we agreed that we could help young farmers plant their roots in rural communities and carry on our long-held and cherished farm traditions was to lower the cost of crop insurance for beginning producers during their first ten years in business – the most vulnerable of any venture. Those conversations resulted in a meaningful policy that I introduced in 2023 and named the Crop Insurance for Future Farmers Act, which is as straightforward and necessary as it sounds. I later secured this legislation in the Farm Bill that passed out of the Houe Agriculture Committee with my support last year and then worked to include it in the “One, Big, Beautiful Bill” where it became law.
Under this legislation, young farmers will receive 15 percentage points of additional support on crop insurance during their first two years in business, 13 percentage points for the third year, 11 percentage points for the fourth year, and 10 percentage points for their fifth through tenth years on the farm. This temporary relief will free up cash for new producers to invest in their operations, buy needed farm equipment, and raise their families in rural Iowa.
To me, this is not only a critical investment in the next generation of Iowa agriculture, but also a strong defense against our enemies who want to buy up our farmland and undermine our national and farm security. This initiative will support the next generation of Iowa farmers, protect our family farms, and keep Iowa farmland in the hands of Iowa farmers – exactly where it belongs. Additionally, with a significant amount of farmland expected to exchange hands over the next several decades as farmers retire, we cannot let China or any of our foreign adversaries gain access to our fertile farm ground or hamstring our food and agricultural supply chains. Fortunately, now that the USDA is quickly implementing my Crop Insurance for Future Farmers Act, we can pass our farmland onto the next generation – not China or any foreign enemy.
By enacting this legislation through President Trump’s “One, Big, Beautiful Bill,” we will increase access to affordable, reliable crop insurance policies that protect our young producers, grow our economy, and keep Iowa agriculture strong. I thank President Trump and Secretary Rollins for standing with our young and beginning farmers, and I look forward to continuing our work together to support rural Iowa and our farm communities.