2012 Farm Bill Important to Future of Ag Industry

Photo courtesy of National Geographic
The 2012 Farm Bill is under works and there are a few mandatory changes some producers feel are needed to see the agriculture industry continue to grow and flourish.
According to United States Department of Agriculture Secretary 100,000 new farmers are needed to revitalize the agriculture industry. New farmers are afraid to enter the industry because it is expensive to start an agriculture related business. To start a business new farmers need land, livestock and production machinery.
The 2008 Farm Bill included the Individual Development Account to help new producers save money to start an agriculture business. Another important program under the farm bill is the 40-year-old Rural Youth Program. This program provides loans and funding for youth from communities with 50,000 people or less. Important changes must be made to this program in the 2012 Farm Bill, according to a survey of producers. One major change is the addition of loans for youth falling into a 21 to 35 year old category.
These programs are important to the future of agriculture because it is difficult for young producers to obtain loans from credit sources due to a lack of credit. The USDA is likely to support these new businesses with small and large loans.
For more information, contact Farm Plus today at 866-929-5585.