The United States has roughly 893 million acres of the best farmland in the world.
We depend on this finite amount of land to grow our food, produce homegrown energy, and power our economy. Our rural communities take pride in the fact that – right here in America – we have the most fertile soil and bountiful harvests of any nation in the world. This isn’t a coincidence. It’s the result of the hard work, long hours, sacrifices, and resilience of our farmers and ranchers, their families, and rural communities at large. Agriculture is the backbone of our states’ economies, and it’s critical that we work to ensure that the next generation of farmers and ranchers are prepared to face unique challenges in the years ahead.
The U.S. Department of Agriculture’s (USDA’s) 2017 Census of Agriculture showed that 34 percent of American farmers today are over the age of 65 and only 8 percent are under the age of 35. That means that a significant amount of American farmland will change hands over the next 20 years. If we fail to address this crisis, a shortage of farmers will precipitate a shortage of food and fuel, all while inviting China and other bad actors to buy up our farmland at a discount.
China is spearheading a real, persistent campaign to threaten our food security, surveil U.S. military installations, and collect data on our farming processes and military capabilities by purchasing our land. To date, China has acquired approximately 384,000 acres of American farmland, and, while that figure may seem inconsequential, other statistics are not. According to the USDA, farmland purchases by China accelerated tenfold between 2009 and 2016, and foreign entities own more than 40 million acres of our farmland. Foreign countries – including China – aren’t pumping the brakes on farmland acquisition. They’re hitting the gas, and we need to ensure our rural communities and the farmers who support them are protected.
Agriculture producers are simultaneously struggling due to President Biden’s wasteful spending policies that have helped fuel inflation, accelerate interest rates, and increase input costs. The USDA’s 2023 Farm Sector Income Forecast revealed that net farm income is projected to decrease by more than $40 billion – or nearly 23 percent – from a year ago, and crop cash receipts are expected to fall by $267 billion. At the same time, farm sector production expenses are projected to increase by almost $30 billion from 2022 to a total of $458 billion in 2023.
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The challenges ahead underscore the need to support the next generation of farmers and ranchers. Representing hundreds of rural communities and thousands of farm families, we teamed up to introduce the Crop Insurance for Future Farmers Act. Current law only offers enhanced crop insurance benefits to new farmers for their first five years in business. Our legislation would double that timeline, extending crop and livestock insurance protections to young, beginning, and veteran farmers for their first ten years in business; the most vulnerable years for any venture. Our bill would also lower insurance costs for producers during their first five years in operation, giving young farmers the breathing room and financial flexibility that they need to plant their roots, raise their families, and make a profit.
The threat of foreign influence coupled with start-up costs for farmers and ranchers makes it clear that we need immediate action to help young producers. We simply cannot allow the roughly 450 million acres that could change hands in the next two decades to fall into the wrong hands. Facing economic challenges and other obstacles that are out of their control, the next generation deserves a seat at the table, a stake in the game, and a hand up to continue our Midwestern tradition of agricultural excellence. We’re confident that this investment in the future will pay dividends for our economic stability, help young farmers start and stay in business, and keep American farmland in the hands of American farmers – exactly where it belongs.
Rep. Randy Feenstra represents Iowa’s 4th Congressional District in the U.S. House of Representatives. He serves on the House Ways and Means Committee and the House Agriculture Committee.
Sen. John Thune represents South Dakota in the U.S. Senate. He serves on the Senate Agriculture Committee and is the Senate Minority Whip, making him the second-ranking Republican in the chamber.
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