By Scott Faber and Jared Hayes
Don’t call it a budget reconciliation bill. Call it a “farm bill for the one-tenth of the 1%.”
That’s because the budget reconciliation bill the House passed today will make it easier for the wealthiest farmers to receive farm subsidies.
In particular, the bill increases the limit on farm subsidies for certain commodity crops from $125,000 to $155,000. Less than one-tenth of 1% of farms received more than $125,000 linked to government price guarantees in 2024, according to farm subsidy data provided by the Department of Agriculture. Only one-tenth of 1% received a payment greater than $125,000 in 2023, and only two-tenths of 1% received a payment greater than $125,000 in 2022.
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