Likely Cost Of The 2024 Farm Bill. House of representatives committee on agriculture completed its markup of the farm, food and national security act of 2024 (farm bill) on may 24, 2024, and. The prominence of federal spending cuts in the 2023 debt ceiling and budget battles indicates that we should expect the projected cost of the farm bill to feature prominently.
Since the last farm bill, input costs are up 33%, creating serious financial headwinds for many of america’s family farmers and ranchers. An escalator clause in the current farm bill allows for an increase in reference prices given current market conditions, with an official list of prices released by the usda farm service agency (fsa), the first week of january.
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