Washington, D.C. Update

May 5, 2023

Senate Agriculture Holds Farm Bill Hearings

This week, the Senate Agriculture Committee held two farm bill hearings:

  • The first, on May 2, was entitled “Commodity Programs, Credit, and Crop Insurance - Part 1: Producer Perspectives on the Farm Safety Net” (listen here). 
  • The second, on May 4, was entitled “Commodity Programs, Credit, and Crop Insurance - Part 2: Industry Perspectives on Risk Management and Access to Credit” (listen here).

On May 2 they received testimony from producer organizations as well as representatives from the American Farm Bureau Federation and the National Farmers Union. Producers noted the need to improve crop insurance and the farm safety net. Other issues discussed include disaster support and support for young and beginning farmers. Representing rice, Rich Hillman discussed how rice is more susceptible to changes in market conditions, noting the impacts of increases in input costs and inflation. He advocated for increasing reference prices and adjusting program payment limitations.

The May 4 hearing included testimony from bankers and insurance interests.

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