Later today, Congress will begin marking up bills for the budget reconciliation, and there is a lot at stake for the ag sector as both chambers have been tasked with cutting billions of dollars.
The Senate Budget Committee is looking at cutting around $5 billion over the next decade, with a billion of that coming from agriculture. House leaders say they will reject that plan, insisting their own bill addresses each of President Trump’s agenda items.
A recent budget release from the White House shows the House Ag Committee must cut $230 billion over the next ten years. It also calls for $100 billion in new military spending, with $90 billion for border security.
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Farmers are struggling with low commodity prices and skyrocketing input costs, resulting in debt that is outpacing income across the sector, according to the USDA’s new farm income forecast.
The trustees’ 2025 annual report, released June 18, cited a law enacted this year as the primary reason why the funds are projected to run out a year earlier than previously projected.
