Episode 75: Agriculture Policy in 2025: Key Updates with Jenny Mesirow
In this episode of AgCredit Said It, host Phil Young welcomes back Jenny Mesirow from the Farm Credit Council to provide an in-depth update on the Farm Bill and the latest happenings in Washington, D.C. Jenny shares her extensive experience and insights on the legislative process, the impact of new administration changes, and the critical issues facing the agriculture sector. From the intricacies of the Farm Bill to the potential tax changes under the new presidency, this episode is packed with valuable information for farmers, industry leaders, and anyone interested in the future of farm finance. Tune in to learn how these developments could affect your farm's financial future and what steps you can take to stay ahead.
Main Topics Covered
- Farm Bill Updates:
- Current farm bill law expired in 2023, now operating under a second one-year extension through September 2025.
- The need to reintroduce and renegotiate the farm bill products from the previous Congress.
- Importance of passing a five-year farm bill for continuity and certainty for producers.
- New Administration Impact:
- Discussion on the potential impact of President Trump's administration on agriculture, including tariffs and executive orders.
- The process and timeline for appointing new members to the Department of Agriculture.
- Farm Credit Council's Focus for 2025:
- Hyper-focused on the Farm Bill, advocating for higher loan caps on USDA guarantees, and updating language for FSA loan guarantees.
- Ensuring robust crop insurance safety nets and strong commodity programs.
- Tax Reconciliation:
- The need to extend and reauthorize tax provisions from the 2017 Tax Cuts and Jobs Act.
- Protecting agriculture's interests in the tax package, including estate tax treatment, Section 179, 199A, 1031, and pass-through business authorities.
- Advocacy and Education:
- Encouraging listeners to engage with members of Congress and share their stories to influence agriculture policy.
- The importance of educating new members of Congress and administration officials about the significance of agriculture.
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