U.S. Senate Committee on Agriculture, Nutrition, and Forestry Chairman John Boozman (R-AR) said filling key leadership positions at the U.S. Department of Agriculture and the Farm Credit Administration is critical to supporting farmers and ranchers facing economic challenges and getting a new Farm Bill across the finish line this year, as the committee considered four nominees Tuesday.
The following is Chairman Boozman’s statement as prepared for delivery:
“Good morning and welcome. It is my privilege to call this hearing to order. Today we will consider the nominations of Mr. Gregory Ibach to be Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs, and Mr. Carl Bednarski, Mr. John Grunewald II, and Mr. James Russell Middleton to be members of the Farm Credit Administration Board.
“I would like to take a moment to congratulate the Ranking Member on her recent election to serve as Minnesota’s governor. I have enjoyed serving with you on this Committee, and we have accomplished some great things. Hopefully, together, we can get the Farm Bill across the finish line this year before you assume your new role. We wish you well, and you will be missed in the Senate.
“It’s important that we have the personnel in place to support farmers, ranchers and producers and that’s why considering these nominees is critical to our role.
“Starting with the Under Secretary for Trade and Foreign Agricultural Affairs. We rely on this position to lead USDA’s trade promotion programs and international food assistance work, as well as to ensure agriculture is prioritized in the administration’s broader trade discussions. I’ve always said that trade is the lifeblood of agriculture, and we know that advancing market access for U.S. agriculture is more critical now than ever.
“On October 1, the investments we made in the farm safety net last summer took effect, injecting billions of dollars in year over year support to producers who are continuing to face high input costs and low commodity prices. That includes more than doubling funding for our trade promotion programs. Congress has also come together several times over the last two years to provide emergency economic support to our farmers, as we waited for these durable changes to be felt. I spent time last month visiting with Arkansas farmers, and it’s clear that the situation in farm country remains dire.
“That is why I remain committed to working with Ranking Member Klobuchar, and our House counterparts to advance a five-year farm bill before the end of the year. I also continue to advocate for a path forward for additional emergency assistance, and I appreciate Senator Hoeven’s leadership on that as well.
“But as we look ahead, we know U.S. agriculture must build demand, both here at home and abroad. Farmers continue to look for new markets and expand access to existing markets. For one, we’re working to restore market access for our beef, in key markets like China. Additionally, several industries, such as rice, seafood, and specialty crops, are also looking for help to ensure a level playing field with imported products. The review of the USMCA agreement, which is so critical for agriculture, also remains ongoing. Mr. Ibach will play a key role in all of these efforts and more to ensure our producers have both a level playing field and long-term certainty.
“International food assistance is another tool we have to expand market access. I am pleased the farm bill that was reported out of our committee in September would permanently transfer Food for Peace to USDA. I appreciate and am proud of Luke Lindberg, who is now leading the World Food Program in Rome, for his leadership on this important program, and look forward to working with Mr. Ibach to ensure the good work of Food for Peace continues. Mr. Ibach is deeply qualified to step into this role, and I am confident he will remain a champion for U.S. agriculture on a global stage.
“Also important to American agriculture is the Farm Credit Administration. Over the past several years, our nation’s farmers and ranchers have faced significant economic headwinds, which has eroded equity, tightened credit conditions and led to more farm bankruptcies over the last year than we have seen since 2020.
“In my home state of Arkansas, farm bankruptcies are at levels not seen in a century, and we have the unfortunate distinction of leading the country in the number of bankruptcies. Many farmers have had to make the difficult decision to end farming operations that have been in their family for generations.
“According to USDA, farm sector debt is expected to increase 4.6 percent to reach $605.1 billion in 2026. Farm sector solvency is also forecast to worsen in 2026 relative to 2025, with debt forecast to grow at a faster rate than assets or equity.
“While key sector health indicators such as debt-to-asset and debt-to-equity ratios are not at levels seen during the 1980s Farm Crisis, the forecast is not encouraging.
“In order to pull out of this downturn and remain competitive in a global economy, our nation’s producers will need access to adequate levels of credit.
“While we made a significant investment of over $68 billion in the farm safety net through the Working Families Tax Cut Act, it has been eight years since we updated the Farm Service Agency’s direct and guaranteed farm loan limits authorized in the Farm Bill.
“This is another reason that we need to pass a full five-year Farm Bill before the end of the year so we can get to work with USDA and the nominees before us today once they are confirmed and sworn in at the Farm Credit Administration.
“The Farm Credit Administration provides critical oversight of the Farm Credit System that so many producers count on.
“The Farm Credit System was created to provide a reliable, stable, and long-term source of credit in good times and bad for our nation’s farmers and ranchers, and it is the Farm Credit Administration’s job to ensure the safety and soundness of the Farm Credit System.
“I am confident that our nominees will serve America’s farmers and ranchers well and do their best to protect the integrity of the Farm Credit System they are tasked with regulating.
“We welcome all of you to the committee and congratulate you on your nominations. Thank you for your willingness to serve.”
Click here to watch the opening statement
