House Version of 2024 Farm Bill Goes Through Markup

Posted: May 29 2024

The Farm, Food and National Security Act (H.R. 8467), commonly referred to as the 2024 Farm Bill, was marked up by the House Agriculture Committee. The bill reauthorized programs within the U.S. Department of Agriculture, including loan programs used by bankers. The 2018 Farm Bill expired in 2023 but was extended through 2024. The legislation is voted on every five years.
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The bill—which totaled $1.5 trillion, the first Farm Bill in history over a trillion dollars—includes comprehensive risk management tools for farmers and ranchers, loan guarantees for agricultural loans, rural development projects, nutrition support and investments in conservation. The legislation provides a vehicle for the banking industry to help meet the financial needs of farmers, ranchers and U.S. agricultural communities. Both the House and Senate ag committees released outlines of their competing versions of the 2024 Farm Bill on May 1. The House committee released a nearly 1,000-page discussion draft on May 17.

To read more, visit: https://bankingjournal.aba.com/2024/05/house-version-of-2024-farm-bill-goes-through-markup/