2018 Farm Bill
On December 20, 2018 President Trump signed the 2018 Farm Bill into law. This is a five year bill with a cost of $867 million over 10 years.
Some key items in the bill:
Farmers will have the choice between revenue-based and price-based commodity programs.
It allows for a nationwide yield update for Price Loss Coverage (PLC) beginning with the 2020 crop year.
It changes Agricultural Risk Coverage (ARC) to allow increased yield plugs and yield trend adjustments.
It includes conservation programs which protect natural resources, provide incentives and rebalances rental rates.
It improves the safety net for dairy producers.
It strengthens market development programs.
For a more comprehensive review of the 12 titles in the bill please click on the link below.