WHAT HAPPENS TO THE U.S. FARM BILL EXTENSION AFTER SEPTEMBER 2024?

WHAT HAPPENS TO THE U.S. FARM BILL EXTENSION AFTER SEPTEMBER 2024?

The Importance of the U.S. Farm Bill

The U.S. Farm Bill governs funding for agriculture and food programs, influencing farming practices, subsidies, and real estate investments. Updated every 4-5 years, it adapts to changes in technology, economics, and environmental concerns.

Key Impacts

·        Farmers and Subsidies: About a third of U.S. farmers receive government subsidies, costing $10-20 billion annually.

·        Technological Advances: Increased adoption of ag-tech and IoT devices.

·        Market Influences: Changes in global trade, like the war in Ukraine, affect crop yields.

·        September 2024 Deadline

·        President Biden's 2023 extension ensures the current Farm Bill runs until September 30, 2024. Without a new bill, outdated provisions from 1938 and 1949 would take effect, which is unlikely but concerning.

Real Estate Implications

·        Land Value: Stability of subsidies affects farmland value.

·        Investment Considerations: Investors must consider risk management, insurance, and regulatory changes.

As the deadline for the 2024 U.S. Farm Bill extension nears, the agricultural sector and real estate investors are closely monitoring potential changes. The outcomes will impact farmers, land values, and the broader economy. Staying informed and prepared is essential for navigating the evolving landscape of U.S. agriculture and real estate investments.

Read more about the future of the U.S. Farm Bill HERE.