Back in July, the One Big Beautiful Bill was passed and signed into law following votes of approval of the U.S. Senate and the U.S. House of Representatives.
The primary purpose of a budget reconciliation bill is to fast-track legislation required for federal funding, revenue, and debt limit for the year. The final bill on that included the policy priorities for the U.S. Peanut Federation, we found out, including an increase in the reference price for price loss coverage. It had a voluntary base acres update, which farmers are participating in now, a market loan increase, and a modified payment limitation, which many are saying that’s not high enough because of the cost of production, all of which are in the law.
But this past week, Senate Ag Committee on Agriculture, Nutrition, and Forestry met to mark up their part of Farm Bill 2.0. After more than four hours of discussion, Chairman Boozman called for a vote on the legislation, and the vote failed 10 ayes and 11 nays. So, the only part we have so far is the Great Big Beautiful Bill, the One Big Beautiful Bill, which is in effect right now. We’ll have to wait to see if Farm Bill 2.0 has any provisions and will be put into law, but they’ll not discuss it until September.
Audio Reporting by Tyron Spearman for Southeast AgNet.