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Shining Light on Farm & Food Policy for 20 Years.
Saturday, September 14, 2024
USDA is making available a fresh round of funding through the Regional Agricultural Promotion Program, a $1.2 billion effort funded from the department’s Commodity Credit Corporation.
The House Agriculture Committee’s farm bill would boost the federal budget deficit by $33 billion over 10 years, according to an official cost estimate released Friday by the Congressional Budget Office, which refused to change its stance on a budget offset intended to fund changes to commodity programs.
Republicans blocked the Senate on Thursday from taking up a House-passed tax bill that includes improvements to valuable expensing provisions used by farmers, as well as an expansion of the child tax credit.
The top Republican on the Senate Finance Committee, Idaho Sen. Mike Crapo, warned leaders of the nation’s farmer cooperatives Thursday that U.S. inaction on trade agreements is benefiting China and that both former President Donald Trump and Vice President Kamala Harris pose problems for trade policy.
Senate Majority Leader Chuck Schumer, D-N.Y., is challenging Republican colleagues to vote for a House-passed tax bill that includes an expansion of the child tax credit and improvements in expensing provisions that are popular with farmers.
Producers of biodiesel and renewable diesel who say federal biofuel mandates have not been enough to expand their markets sufficiently face a new challenge at the end of the year — the expiration of a $1-a-gallon tax subsidy that has helped maintain the industry for several years.
The average dairy herd has grown by about 150% over the past two decades, according to a study by USDA’s Economic Research Service that also confirms the growing significance of Texas and Idaho in dairy production.