Rural communities in Arkansas and across our country have been facing a bleak picture for years. The problems created by declining populations and aging infrastructure were recently compounded by crushing inflation and other challenges that have taken a profound toll, especially on farmers and the agriculture industry.

These trends must reverse, or we could pass the point of no return imminently.

That is why I have been leading a years-long push to support farmers, ranchers, foresters, and the towns and regions they live and work in, through an updated farm bill. With Republican control of Congress and the White House, we are poised to make important progress in that endeavor and beyond. Through a process known as budget reconciliation, we have the opportunity to foster a stronger, safer and more prosperous America by lowering taxes, bolstering domestic energy production, and securing our southern border. It also presents an opportunity to deliver enhanced tools and resources farmers desperately need.

As Chairman of the Senate Committee on Agriculture, Nutrition, and Forestry, I have met with hundreds of farmers across the country to hear their struggles and pleas for support. Just recently I sat down with members of the Arkansas Farm Bureau and the Ag Council of Arkansas who echoed the dire straits they and their peers continue to face. The good news is Senate Republicans are advancing several policy wins they have been calling for.

Our committee has crafted a section of the budget bill that invests in rural communities and America’s farm families. We are confident that these measures will provide the risk management tools and updated farm safety net they need to keep producing the safest, most abundant and affordable food, fuel and fiber in the world.

A modernized safety net will help ensure the next generation of agriculturalists can continue farming by protecting against economic uncertainty and market volatility. Further, we are enhancing the disaster assistance programs available for livestock, specialty crop and honeybee and aquaculture producers. Additionally, our provisions also expand access to more affordable crop insurance while making the program more responsive to industry risks.

This assistance is vital, as farm bankruptcies increased by 55 percent in 2024 compared to 2023, while the average cost of production for major row crops over the past three years is 38 percent higher than it was 10 years ago.

Operating under the outdated policies of the 2018 farm bill is no longer an option. So, as we continue pushing to pass a farm bill this Congress, we are seizing this unique opportunity to pursue critical updates and enhancements in the meantime.

 The broader legislation also permanently extends the 2017 tax cuts and ensures family farmers, ranchers and producers can benefit from small business deductions, relief from the death tax and an increased means to access and secure farming loans at lower costs. With this bill, we ensure Arkansas’s farm families and small businesses have the opportunity to preserve their legacies for the next generation and prevent an approximate $5,000 increase in annual taxes, according to analysis from the American Farm Bureau Federation. Without this relief, additional taxes on the agriculture industry are estimated to total a crushing $9.3 billion.

Arkansans know that our farmers and ranchers are facing real challenges. Our budget reconciliation measure delivers the risk management tools and updated farm bill safety net they need to keep producing and raising the food we put on our tables. Standing with our farmers by investing in rural America and the future of agriculture is imperative, and I look forward to working with my colleagues to deliver this key support promptly.