Indefinite moratorium on ag mergers proposed

A proposed moratorium on agribusiness mergers has been re-introduced in the U.S. Senate.  Democrats Cory Booker of New Jersey and Jon Tester of Montana authored the bill, which would immediately stop acquisitions and mergers in the food and agriculture sector. 

Booker says if passed, the moratorium would remain until Congress passes comprehensive legislation addressing agricultural market concentration.  That’s different from last August when Booker first tried to move the moratorium bill with an 18-month limit.

The bill has also been introduced in the House by Wisconsin Representative Mark Pocan.

Booker says excessive levels of concentration and market power are devastating independent family farmers and ranchers and hollowing out rural communities.

Several organizations have sent a letter to Congress indicating their support for the proposed moratorium.

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