Budgeting a farm bill with divided Congress could mean an extension

An ag financing expert says an extension of the 2023 Farm Bill is likely as new legislators face growing costs.

Curt Covington is with ag lender AgAmerica.

“When the SNAP program represents 78 percent of that entire budget, I don’t see how you can carve out anything from any of the other titles, including conservation, and make this budget work,” he says.

Covington expects new lawmakers to question why the commodity title budget needs to increase if farmers are seeing near-record farm incomes.

“And the answer is while farm revenue is close to an all-time high, the margins on those crops continue to dwindle because of higher input costs,” he explains.

He tells Brownfield the Congressional Budget Office has projected nutrition funding could cost $1.1 trillion dollars and partisan differences will likely take debate past the end of next year.

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