While attending the National Association of Farm Broadcasters Convention, Maci Carter got to talk to the Executive Head of Terrain John Newton. They discussed the election results, the pending farm bill, and the first 100 days of President-elect Trump’s administration.
He pointed to the historic inflation seen across the economy in the past four years, as well as growing concerns about immigration, saying that the American people spoke through their votes at this year’s election. “They want to see change. They want better economic conditions for their families. They want safer communities, and we saw that in the election,” he stated.
Newton believes that there is a good chance that the farm bill will reach completion during the lame duck session of Congress. “Farm bills are always bipartisan. Senator Boozman and Senator Stabenow are working with G.T. He already has a bill out of the committee. Once the four corners agree on what a deal could potentially look like, you can get a bipartisan farm bill over the finish line if staff works very quickly.”
He pointed out that the math changes if the farm bill process continues into 2025 which means that Chairman Thompson would have to start over with getting a new farm bill out of the Ag Committee, this time amid tax reform and reconciliation.
“If you want to avoid that, now is the time to act – in the lame duck session,” he said.
USDA projects lower corn, soybean, oat, and barley prices and flat wheat and cotton prices, and combined with rising input costs, the economy will be even more challenging next year. Newton commented, “There is an opportunity to get a farm bill done now that enhances the risk management tools that farmers are going to need in place next spring when they get out and start sowing a crop.”
He praised producers for being vocal about their needs in the challenging economic environment today but said getting the farm bill done sooner rather than later is now up to the will of government leaders.
The first 100 days of a new administration are crucially busy. From the agricultural perspective, the Cabinet must be established beginning with the appointment of the new Secretary of Agriculture, and Congress needs to organize under their new leaders including Senator Boozman’s move to Chairman of the Ag Committee. Newton says it’s also important to monitor executive orders that may be introduced on January 21st.
“The first and most important is to have a leader in agriculture who understands the industry and can be a sound voice in the room as we think about these issues that need to be addressed,” Newton said.
They went on to talk more about Trump’s tax reform and reconciliation policies and potential trade opportunities in global markets. Click the listen bar at the top of the page to hear the complete conversation.
