Tuberville urges Congress to provide aid for farmers

December 19, 2024 - WASHINGTON, D.C. - U.S. Senator Tommy Tuberville (R-Alabama) made an impassioned speech on the Senate floor asking Senators to pass a stand-alone economic assistance bill for farmers across the country. Tuberville blamed the Biden administration's policies for the growing problems in the nation's economy and warned that without Congress stepping up and doing something to provide aid to farmers both the country and the world may have a harder time remaining fed, clothed, and fueled.

"Today, farmers across the country are facing significant financial losses for most commodities planted during the 2024 crop year," said Tuberville. "It's a dire situation. I've been saying this for a while now: for the sake of American food security, national security, and rural prosperity, Congress must pass economic assistance for our farmers before the end of the year. That is why I am asking Congress to pass a stand-alone economic assistance package for our farmers. No strings attached."

Many farmers have been negatively impacted by declining commodity prices, higher interest rates, and higher prices for the fuel, fertilizer, seed, agricultural chemicals, labor, tractor parts, and other inputs that they need to put a crop in the ground or keep their animals fed.

"This isn't for the lobbyists, special interests, or liberal pet projects. It would go directly to the people who feed, clothe, and fuel the United States of America and the world," continued Tuberville. "It's for the American farmers who are in desperate-they're in desperate-need of help to survive. This economic assistance certainly won't help farmers make a profit. They have no chance. It won't even help them break even. Right now, many farmers won't be able to secure financing and renew their operating loans to keep their farms running for another year. Again, they're in trouble. This funding would only help farmers cover part of the 2023 and 2024 losses for American producers."

"For crops grown in my state of Alabama specifically, the expected losses this year are over $200 per acre," said Tuberville. "Cotton producers are [in the] worst shape with losses of approximately $373 per acre. Peanut farmer's losses are next at almost $198 per acre. Other crops-such as corn, soybeans, and rice-are also facing devastating financial losses."

"These losses are occurring after farmers have produced bumper crops, which have yielded some of the best crops producers have seen in many, many years," said Sen. Tuberville. "This indicates that a major economic disaster is looming for our producers and our country. If this dire situation continues, the American agricultural industry will face permanent, permanent damage. American farming as we know it could cease-I repeat, cease-to exist. Regardless of the region, state, crop, or weather pattern, there is one thing every farmer is subject to: that's the law of economics. And right now, it's an economic disaster for our farmers across this country and all states."

"The math is simple. With production costs and interest rates at an all-time high, farmers' expenses are exceeding their profits," stated Tuberville. "Under Biden's leadership, cost for feed is up 22%, fertilizer up 34%, and fuel up 30%. On top of that, labor is up 40% and interest up 54% on crop loans. 54%. You can't make these numbers up. Input costs are skyrocketing while commodity prices have plummeted-absolutely plummeted-and are expected to continue falling. According to the 2022 USDA Agriculture Census, our nation has lost over 25,000 producers in just the last few years."

"According to the USDA, net farm income this year is projected to decline 4.1% from 2023," said Tuberville. "This follows a shocking-listen to this-a shocking 22.6% decline from 2022 levels. These figures represent over $40 billion in lost revenue for America's hardworking producers. No business, not one business, in this country can survive like this. And our farmers and our farms are no different. This is the largest two-year decline in farm income in the history of our country-the history of the country. In Alabama alone, we have lost nearly 2,000 producers and over 3,200 farms in just the last few years. This will cause farms to get bigger, not smaller. Economies of scale will continue to push out small and medium size growers, resulting in further consolidation of the agriculture industry."

"I continue to stand with Senate Agriculture Committee Ranking Member Boozman in emphasizing the need to pass a strong Farm Bill with an adequate farm safety net in the upcoming Congress," said Tuberville. "However, the truth is that even if we did pass a new Farm Bill, which would be improved, hopefully-containing increased reference prices for Title I commodities-assistance would not reach farmers until October 2026. It will be a little too late for our farmers this year-thousands of them. Most farmers who wish to plant crops in 2025 need renewed access to credit before the end of this month."

"With many balancing checkbooks in the red-some for the second, third, or fourth year in a row-farmers will have a difficult time securing [financing] without improved certainty within the agriculture sector," said Tuberville. "So, while a one-year Farm Bill extension is important, it does not provide the needed certainty for bankers [and] creditors to extend farm loans for the [up]coming planting season. By failing to extend the adequate financial lifeline to farmers now, our farmers will, and I repeat, will not survive until the fall of 2026."

"Congress cannot defy the laws of economics, but it can pass a stand-alone economic assistance package for our farmers to help them survive another year," said Tuberville. "This is perfectly within our power. There will be no funny business with this economic assistance. Just a straight up-and-down vote, to see who stands with our farmers, and the food for this country and the world."

Senator Tommy Tuberville represents Alabama on the Senate Agriculture Committee.

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