New farm bill introduced

House Agriculture Committee Chairman Glenn Thompson (R-Pa.) introduced a new farm bill and said the committee would hold a markup on it this month.

Details: Thompson said the Farm, Food, and National Security Act of 2026:

• Would provide certainty to farmers, ranchers, and rural communities.

• Builds on ag investments made last summer in H.R. 1.

• Is very similar to its namesake in 2024, with a few key updates.

Recent ICBA Farm Advocacy:

• ICBA last week urged Congress to pass an additional farm economic assistance package.

• ICBA and 60 farm groups this month expressed opposition to crop insurance cuts during the budget process.

• ICBA last month said it supports favorable provisions of IRS guidance regarding the ACRE Act tax exclusion for interest earned on agricultural real estate loans.

• ICBA and other groups in October urged President Donald Trump to provide financial assistance to farmers as a bridge until market demand for agricultural commodities boosts prices.

• ICBA sent a letter in October to the Treasury and Agriculture departments urging the administration’s support for a farm aid package as large or larger than the $10 billion package adopted by Congress last year.