WAWG
On Oct, 25, Rep. Trent Kelly (R-Miss.) presented the Farmer Assistance and Revenue Mitigation Act of 2024 (FARM Act) and was co-sponsored by 48 other representatives from both sides of the isle. This bill would provide economic assistance to offset producer costs with the lack of a farm bill. Producers would be paid on actual planted acres for crop year 2024 plus 50% of all acres that were not planted. The payment formula is (Projected Cost – Projected Returns X Eligible Acres X 60% = Total Payment. All payments will be made based on U.S. Department of Agriculture projected costs and returns. The National Association of Wheat Growers (NAWG) along with many other commodity groups support this bill.
“Producers across the country continue to be hit hard by natural disasters, higher input costs, and low reference prices. As we wait for a new farm bill to be signed into law, farmers need assistance as we deal with external factors out of our control. The FARM Act is not a replacement for a long-term farm bill but provides farmers with the tools we need to keep our operations running,” said Keeff Felty, NAWG president.