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Despite new funding for forestry, conservation and Ag research, the American Farm Bureau Federation says President Biden’s “Build Back Better” Act is bad for rural America. Much of the concern is over tax hikes and inflation. AFBF President Zippy Duval recently wrote to House lawmakers regarding the $2 trillion prices of legislation that focuses on social and climate issues. Duval said the bill’s costs outweighed increases for farm programs.

“Those are all attractive programs that are in there, but if you look at it and look at the numbers, you’re talking somewhere between $66 billion to $90 billion, but we’re looking at a $3.5 trillion bill and $2 trillion in tax increases.” 

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Soaring inflation, according to the AFBF, threatens farms and ranches may further complicate the supply chain bottleneck. 

“You’ve got government spending, yes, savings that we’re not necessarily accustomed to, so there’s a lot of dollars chasing supply of everything, which ends up increasing costs,” noted AFBF Senior Economist Veronica Nigh.  

With food prices the highest in a dozen years and meat, fish, and egg prices rising at the fastest rate since 1979. Duval added that energy prices—a huge part of farming—have jumped dramatically, with costs soaring for fuel, fertilizer, and chemicals.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekmedia.com