U.S. Senator Debbie Stabenow (D-Michigan) has released text of a proposed $39 billion Farm Bill that would include $20 billion to increase reference prices; make crop insurance more affordable and support beginning, underserved and small farmers and ranchers. 

The Rural Prosperity and Food Security Act, originally pitched last May, would also “lay the groundwork for a moonshot in agriculture research” and provide immediate assistance to producers impacted by severe weather and declining revenue. You can the bill announcement here and the full text of the bill here. 

Part of the focus would be “tackling the climate crisis” by using the resources in the Inflation Reduction Act to increase funding for “popular, voluntary conservation programs that farmers and ranchers want, use and need,” a summary of the proposed bill says. “These programs pull carbon out of the air and place it in the soil for healthier farms and a more resilient future.”

The bill establishes a permanent structure for disaster assistance so that future ad hoc assistance can get out the door to farmers sooner, and it “gets money back in the hands of farmers immediately” by providing a partial reimbursement of crop insurance premiums and Noninsured Crop Disaster Program (NAP) fees paid for the 2024 crop, the bill states. 

Resources are also promised for the Conservation Stewardship Program, adding a new focus on transitioning farmers to be more resilient to the changing climate, reducing greenhouse gases and building soil health.

With 2024 winding down and a new administration taking over next year, the bill’s fate in the current lame-duck session isn’t clear. Republican reactions to the bill – especially the timing of it well after the 2018 bill expired – have been negative. 

Media outlets report that speaker of the House Mike Johnson is pitching a 1-year extension of the current Farm Bill that would be voted on by Dec. 31.

The U.S. House introduced its own Farm Bill version earlier this year, and it reportedly differs from the Senate mostly in authority over the Commodity Credit Corp. and food stamp programs. Another possibly complicating matter is Trump’s forthcoming choice for Secretary of Agriculture. As of Wednesday his pick still hasn’t been announced.