Released: May 24, 2024

Washington, D.C. – The U.S. House Committee on Agriculture voted to pass the Farm Bill, titled “The Farm, Food, and National Security Act of 2024” in a 33-21 vote. Four democrats – Reps. Sanford Bishop (GA-02), Yadira Caraveo (CO-08), Don Davis (NC-01), and Eric Sorenson (IL-17) – joined with all Republican Committee members in voting yes on this legislation.

Earlier this week, the U.S. Peanut Federation sent a letter to U.S. House Agriculture Committee Chairman G.T. Thompson in support of the legislation, stating: “The United States Peanut Federation sincerely appreciates the hard work that went into producing the 2024 Farm Bill. This legislation will support peanut producers who have been struggling in recent years due to increases in farm inputs, labor shortages, trade barriers, and supply chain disruptions.”

Throughout the Farm Bill process, the peanut industry has been united in its priorities, namely a meaningful increase in the reference price for the Price Loss Coverage (PLC) program. The historic rise in input costs and cost of production make a reference price increase a necessity to keep the farm safety net intact. This legislation includes a 17.8 percent increase in reference price for peanuts in the Price Loss Coverage (PLC) program, bringing the reference price from $535/ton to $630/ton.

The legislation also includes other peanut priorities, including a provision for a one-time voluntary base update which will be essential for young farmers and new production areas that have not been able to utilize safety net programs to date.

Peanut-state Congressman Austin Scott (GA-08) stated: “As Vice Chair of the House Agriculture Committee, I am pleased that several of my priorities to ensure a strong farm safety net were included in this legislation, and I appreciate the bipartisan support for final passage through committee.”

“The U.S. Peanut Federation appreciates the hard work of the U.S. House Agriculture Committee in drafting this Farm Bill and passing it out of committee,” stated USPF Chairman Jamie Brown. “The peanut industry has struggled in recent years due to increases in farm inputs, labor shortages, trade barriers, and supply chain disruptions. Yesterday’s markup was an important first step in getting producers the assistance they need to continue to produce our nation’s food, fuel, and fiber. USPF applauds the Members of Congress who supported farm communities by voting to advance this important legislation.”

Following the markup, U.S. House Agriculture Committee Chairman G.T. Thompson said that he does not expect the legislation to be considered on the House Floor before September due to the busy appropriations schedule for the upcoming months.

Find more information about this legislation, including the full bill text, here.

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The United States Peanut Federation (USPF) is comprised of the Southern Peanut Farmers Federation, the American Peanut Shellers Association, and the National Peanut Buying Points Association. USPF serves as a unified voice in Washington, D.C. for all sectors of the peanut industry and advocates actively for strong agricultural policy. For additional information, please contact the USPF at (202) 543-7464.