The House Agriculture Committee is looking to complete the new farm bill in the first quarter of 2024.
Minnesota Republican Brad Finstad tells Brownfield updating reference prices continues to be a heavy lift.
“If we were to totally update the reference price to a point that reflects the world that we live in right now with increased input costs and inflation, to get those reference prices to a relative amount we’re talking about an $80 billion lift.”
He says negotiators are trying to determine how to provide an adequate safety net for farmers while acknowledging there are other tools in the farm bill that might be more effective.
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