The U.S. agriculture industry is grappling with rising costs and an aging workforce, prompting new legislative efforts to support newcomers to the field.
U.S. Sens. Tina Smith (D-Minn.) and Chris Murphy (D-Conn.), both members of the Senate Agriculture Committee, have reintroduced the Student Loan Forgiveness for Farmers and Ranchers Act, originally introduced by Murphy in 2019.
This proposed legislation aims to establish a loan forgiveness program for beginning farmers and ranchers, including women, veterans, and minorities. Broadly speaking, this kind of legislation has been contentious, with significant opposing perspectives along party lines.
Smith argues that student loan debt is a significant obstacle for aspiring farmers. This legislation would encourage new farmers to enter and remain in the industry, thereby strengthening opportunities to develop successful agricultural businesses.
“Agriculture is undergoing a generational shift, with the average age of U.S. farmers now at 58. It’s crucial to support this transition by aiding new and emerging farmers,” Smith stated. “This is about food security, national security, and bolstering our rural economies. We can only achieve these goals by removing barriers for new farmers, with student loan debt being a major one.”
The legislation introduced by Smith and Murphy aims to ease entry barriers for young and diverse farmers as the current generation of farmers begins to retire.
“To sustain Minnesota’s agriculture economy, we must invest in the next generation of farmers as the average age continues to rise. We can do more to help future farmers take on this vital role,” Smith said. “Student debt is a major challenge for young farmers and ranchers. This legislation would promote a younger, more diverse workforce and enable more people to start and continue farming.”
Additionally, Smith is leading the Increasing Land Access, Security, and Opportunities Act, which seeks to improve capital access for underserved farmers, enhance training and economic opportunities for beginners, and make land more affordable for young and BIPOC farmers.
