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Tom Vilsack received strong bi-partisan support in his confirmation vote even as his nomination drew criticism in some progressive circles. Vilsack will serve as agriculture secretary after having held the same post all eight years of the Obama administration.
Although many headlines focus on a declining farm income in 2021, the net farm income outlook is still well-above average and offers a positive story for 2021, says Carrie Litkowski, economist at USDA’s Economic Research Service of the USDA. USDA currently expects net cash income to finish 2020 at $136.2 billion, but to fall to $128.3 billion in 2021. USDA expects net farm income, which includes the value of inventory changes, to decrease $9.8 billion (8.%1) to $111.4 billion in 2021. Despite this decline, 2021 net farm income would still be 21% above its 2000-19 average of $92.1 billion. W...
A growing focus on climate change continues to include agriculture as part of the solution, and sitting at the table is the Food and Agriculture Climate Alliance (FACA) who also is expanding its membership. As Congress and the White House look to tackle the impact of climate change and the role government plays, the initial 40 plus recommendations offered last fall by FACA will take on increasing importance in guiding the discussion for agriculture’s role. Meanwhile, the House Agriculture Committee plans to host its first hearing on climate change on Thursday at 12:30 ET. (Note this is an u...
Toggle open close Over the past few years, the U.S. Department of Agriculture (USDA) has set a terrible precedent by greatly expanding its use of the Agriculture Secretary’s discretionary spending authority under the Commodity Credit Corporation Charter Act.REF Congress has only exacerbated the problem by passing appropriations language that arguably suggests an after-the-fact blessing of these actions.REF The Agriculture Secretary has far too much discretion under the Charter Act, but up until recently, this discretionary power has generally not been abused. Over the past few years, this h...
Pace of China export growth important for measuring the strength in ag commodity markets going forward.