Soybean News, What We’re Watching: Farm Bill, Appropriations, Stopgap Funding

With a government shutdown seeming inevitable at the end of last week, Congress surprisingly passed a last-minute, short-term spending bill over the weekend to keep the government funded through Nov. 17.

While this is positive news, soy growers are keeping an eye on the 45-day deadline and the developments surrounding the historic vacancy in the role of House Speaker, which impacts legislative activity in that chamber.

Past ASA president Kevin Scott (SD) told AgDay that the weekend stopgap funding measure was a welcome surprise, but lawmakers need to find long-term solutions and ensure the federal budget protects farm programs. He emphasized that the ag budget is only a small percentage of the federal budget.

Appropriations

After greater clarity is known regarding the next Speaker of the House, many expect the House to resume work on annual appropriations bills that have not yet been approved. According to Agri-Pulse, there is no update on the ag spending bill that failed last week. The bill failed 191-237 last Thursday, when 27 Republicans joined Democrats in opposition.

While the ag spending bill did not pass, soy growers still celebrated a major win last week when the House struck down Rep. Victoria Spartz’s (R-IN) amendment to the legislation that aimed fire at commodity checkoff programs and was vehemently opposed by the soy industry and others.

Although it is unclear when the Senate will move forward with its ag appropriations bill, ASA will continue to watch developments closely, as an anti-checkoff amendment to this bill was filed recently by Sen. Mike Lee (R-UT).

Farm Bill

The stopgap legislation did not include an extension of the current farm bill, which generally expired Sept. 30; however, it is no surprise that additional time is needed to craft a new farm bill. Temporary lapses and extensions have occurred in past reauthorizations. If history is a guide, an extension of some sort – short or longer-term – may arrive in the December timeframe if needed.

House and Senate Agriculture Committee leaders are delayed in unveiling draft farm bill legislation and moving it forward for a variety of reasons, including budget challenges.

Title I & Crop Insurance

ASA is receiving questions about a lapse in Title I farm safety net programs and crop insurance. Two very important points:

  1. Title I farm safety net programs for soybeans are effective through the 2023 crop year, rather than Sept. 30.

Crop insurance is authorized under entirely separate law and does not expire. Amendments to crop insurance are often incorporated into farm bills to address various interests.

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