This year’s Farm Bill is the costliest, but what area takes the cake?
The 2023 Farm Bill could reach a trillion dollars this year. The Chief Economist with the Senate Ag Committee says one area is taking a big chunk of the pot.
“If we add the IRA resources that are conservation-related, we’re looking at conservation spending and IRA spending combined at close to $75 billion, which could make that the second-largest title in the Farm Bill for farm-related provisions behind crop insurance,” said John Newton.
Newton says if commodity prices fall in the future, that will require more spending on risk management programs like ARC and PLC.