$10 Billion Economic Relief for Corn Farmers

By Scout Nelson

As the economic situation for Minnesota corn farmers continues to decline, the Minnesota Corn Growers Association (MCGA) urged Congress to include economic relief and disaster assistance in the year-end spending bill. With the farm bill unlikely to pass before the year's end, economic and disaster aid became the priority.

The MCGA is pleased that the year-end spending package will extend the 2018 Farm Bill by one more year and includes $10 billion in economic relief for farmers affected by rising input costs and falling crop prices in 2024.

The economic relief package is critical for Minnesota’s corn farmers, who face a significant gap between crop revenues and production costs this year.

While it won't fully resolve the financial struggles of farmers, it is a crucial step toward stabilizing the industry, especially as farmers seek operating loans for the upcoming 2025 crop year. The package also includes $21 billion in disaster assistance for losses in revenue, quality, or production due to natural disasters or drought in 2023 and 2024.

“It’s tremendous to see that Congress has included economic relief for farmers in its year-end spending bill,” said MCGA President. “We know it’s been a long road for this package, so we’re gratified to see its presence. We look forward to advocating for its passage in the coming days.”

Since early 2024, the MCGA has worked tirelessly to secure a new farm bill, meeting with lawmakers and testifying before Congress. The association appreciates the efforts of the U.S. House and Senate Agriculture Committee leaders for their support in including economic aid for farmers.

MCGA thanks Congress for including the relief package and urges prompt approval while continuing to push for a new farm bill that protects crop insurance and strengthens the farm safety net.

Photo Credit: pexels-karolina-grabowska