House-Senate Conference Committee Agrees to Farm Bill Compromise

(WASHINGTON, DC) The Congressional Farm Bill conference conferees voted to move forward with a new Farm Bill compromise, largely the effort of House and Senate Agriculture Committee leadership resolving differences between the House and Senate versions of the 2018 Farm Bill. The Conference Report (2018 Farm Bill) will now come before both chambers for debate. If the legislation passes, then President Trump will have the opportunity to sign the bill before the end of the year. Highlights include improving farm policy by providing a nationwide yield update for Price Loss Coverage (PLC) beginning with the 2020 crop year and allowing PLC to better respond to market conditions; making several key improvements to Agriculture Risk Coverage (ARC), including increased yield plugs and yield trend adjustments; providing a new ARC/PLC election for 2019/2020 and authorizing annual ARC/PLC elections (crop-by-crop and farm-by-farm) beginning in 2021; increasing loan rates to more relevant levels; and improving of the dairy safety net for large, mid-sized, and small dairy producers.