USDA is projecting another 11.5-percent drop in net farm income for 2016 verses last year. Iowa Senator Joni Ernst says that concerns her because farmers are hurting with the low commodity prices and there is no relief in sight. Speaking with reporters at the Farm Progress show she says credit worthiness will get tested as farmers go into the fall, even with near record corn and soybean crops.
Ernst, who is also a member of the Senate Ag Committee, says she doesn’t think pushing up the schedule for writing a new farm bill will help the ailing farm economy. She doesn’t agree with other members of Congress that say the program is not working.
Ernst says opening the farm bill could put programs like crop insurance in jeopardy and that has been a very effective farm safety net tool for farmers.