Grassley asks USDA to implement Farmland Security Act reporting
U.S. Senator Chuck Grassley is urging the Biden administration to prioritize funding that improves transparency of foreign investments in U.S. farmland.
“Nearly half of U.S. farmland is owned by Americans over 65 years of age,” he said. “That means in the next 20 years, it could be up to 370 million acres of farmland changing hands.”
In a recent letter to USDA Secretary Tom Vilsack, Grassley says the agency needs to implement mandatory reporting requirements under the Farmland Security Act, a bill that became law at the end of last year.
“Under the bill, USDA is required to build an interactive database to show foreign ownership disclosures,” he said. “The USDA will report to Congress on the impact these investments.”
Grassley says he plans to introduce two more bills in the 118th Congress that address foreign ownership of U.S. farmland.