On the recordSeptember 24, 2024
I rise today to talk about the dire state of our American farm economy and our farmers. American farmers and producers are the backbone of our Nation's agricultural economy and food security. Despite their critical role in our lives to feed, clothe, and fuel not only the United States but the entire world, our farmers are struggling to survive, and that is an understatement. The current state of the agricultural economy is bleak and on the verge of collapse. We have problems all over the world. We have problems in our country. There is nothing more important--nothing more important--that we should be addressing than our food supply here in this country. Costs for farmers are rising. Commodity prices are falling. Our farmers cannot break even, much less make a profit. According to the USDA, net farm income this year is projected to decline 4.4 percent from 2023--decline. That is a disaster. This follows a shocking--listen to this--a shocking 19.5-percent decline in 2022. Not one business in this country can survive with this kind of decline, and our farmers and our farms are no different. This means producers' income has plummeted 23 percent in just 2 years--23 percent. These figures represent over $40 billion in lost revenue for America's hard-working producers. This is the largest 2- year decline ever in our farm income--ever in the history of this country. Right now, our row croppers, especially, are facing considerable financial hardship.…
Source
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