President Trump’s Budget is an Assault on the Farm Safety Net and Rural Communities, National Farmers Union Says President Donald J. Trump issued the detailed fiscal year 2018 federal budget proposal, recommending drastic cuts to agricultural and rural related agencies and programs. The proposal would cut Farm Bill programs by nearly $230 billion and slash the U.S. Department of Agriculture …
Senate Ag to Hold Farm Economy Hearing
The Senate Agriculture Committee will hold a hearing on the farm economy conditions Thursday, May 25th. Announced by leadership of the committee, Senators Pat Roberts, and Debbie Stabenow, the hearing is titled “Examining the Farm Economy: Perspectives on Rural America.” The hearing is recognized as the start of the Senate Agriculture Committee farm bill hearings. It follows two “boots on …
Trump Plan to Balance Budget Includes Farm Subsidy Cuts
A budget plan President Donald Trump is expected to submit to Congress Tuesday includes steep cuts to farm subsidies, according to Bloomberg News. The 2018 budget proposal, which would begin the process of balancing the budget within ten years, would make cuts to mandatory spending on an array of social programs while sparing the Social Security and Medicare entitlement programs. …
Perdue: U.S. Ag in Dire Straits
Sonny Perdue made his first appearance before the House Agriculture Committee this week as Secretary of Agriculture. He says the current U.S. agricultural economy is in “ dire straits ” but that could be helped by a stronger trade presence abroad. Perdue says he sees challenges ahead as President Trump’s initial budget cuts the USDA allocation by 21 percent. “We’ve …
Tax Reform Central to Improving Economy
Farmers and ranchers need the economic benefits that will follow from tax reform, the American Farm Bureau Federation told Congress in testimony submitted to the House Ways and Means Committee. Weather, high debt-service, a lack of liquidity and the difficulties of passing on land from one generation to the next all make taxation an important issue for farmers and ranchers. …
Farmers Union Confronts the Farm Crisis
The national farm economy is deteriorating, forcing many family farmers and ranchers to make tough financial decisions that will impact their families, communities, and the entire country. In order to provide farmers with the resources and support needed to endure these tough economic conditions, National Farmers Union (NFU) and Farmers Union state divisions have compiled resources, organized listening sessions, and …
Secretary Perdue to Attend House Ag Committee Hearing on Rural Economy
Agriculture Secretary Sonny Perdue will take part in a House Agriculture Committee hearing next week on the rural economy. The House Agriculture Committee will hold the hearing next Wednesday, May 17th. The hearing seeks testimony on how the rural and farm economy is holding up amid a downturn in farm income and commodity prices. House Agriculture Committee Chairman Mike Conaway …
Farm Banks Report Ag Lending Gains in 2016
Farm banks increased their agricultural lending by 5.3 percent in 2016 and held $103.4 billion in ag loans at year’s end, according to the American Bankers Association’s annual Farm Bank Performance Report. Despite overall declines in farm income, farm banks continued to maintain healthy asset quality and capital levels. More than 97 percent of farm banks were profitable in 2016, …
Agri View: Outlook for 2017
Everett Griner talks about the outlook for 2017 and what needs to happen for producers in today’s Agri View. Well 2013 was the last good year for agriculture as a whole. Farm commodity prices were mostly good back then. But here is something to keep in mind now. When crop prices go up, so does the cost of …
Ag Lender Survey: Farm Profitability Down, Commodity Prices Top Concern
ABA and Farmer Mac release first biannual survey of agricultural lenders Nearly 90 percent of agricultural lenders have seen an overall decline in farm profitability in the last 12 months, according to a joint survey by the American Bankers Association and the Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A). The survey of more than 350 agricultural lenders …