Congressional Budget Office confirms this year’s Farm Bill will be the costliest

Washington Capitol

The Congressional Budget Office on Friday updated estimates for cost projections for the 2023 farm bill.

Agri-Pulse reports the increases are due to a decrease in estimates of some future market prices.

The new baseline now estimates that commodity program payments will total $66 billion through 2023. This includes livestock disaster aid, and significantly more than the $56.7 billion estimated in February, with the livestock portion alone being nearly doubled from the February estimate.

Corn growers are expected to receive the largest share of payments at $24.7 billion over ten years. This is an increase of roughly $600 million from the February forecast.

Click here to read CBO’s full report.

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