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House budget bill includes billions in new farmer economic aid

The U.S. House Budget Committee plans to mark up a bill that includes more ad hoc assistance for farmers.

Congressman Brad Finstad of Minnesota tells Brownfield there’s approximately $10 billion in economic aid for row crops.

“And that would be delivered as a bridge payment similar to what we have seen in the last year.”

The Minnesota Republican says lawmakers understand farmers are dealing with a stale market while input costs continue to rise.

“Post COVID, farmers like everyone were hit with the inflationary increases, the input costs that increased. So that gap between inputs and market opportunities just fell apart on us.”

Finstad says the House should move on the reconciliation package next week.

“So it will be a little bit different than normal state of play in the Senate (because of reconciliation). Typically it takes 60 votes to get things through, this will be a 50-vote threshold. So we’re having a lot of conversations with the Senate to pre-grease the skids on it to make sure we have a strong chance of success.”

Some House Republicans on the budget committee have reportedly said the reconciliation bill would include $20 billion in farm aid and $70 billion for defense.