Weekly Food & Agriculture Update 7.29

Monday, July 29th, 2019

WEEKLY FOOD & AGRICULTURE UPDATE

July 29, 2019

A quick look at what’s happening in Washington, D.C. that’s impacting food and agriculture. If you would like to subscribe to the receive the updates right to your inbox, please contact Marissa Dake. 

Big Picture Outlook

  • Budget Update- The House passed a two-year, $2.7 trillion budget deal in a 284-149 vote before they left town for recess on Thursday evening. The agreement does not fund the government, but does raise the debt ceiling until 2021, sets spending levels for this year’s budget and eliminates budget caps. The Senate will vote on the bill this week and President Trump is expected to sign it into law.
  • USDA Releases Trade Aid Details- On Thursday, USDA released details on the Market Facilitation Program (MFP), which is the direct payment component of the Trade Aid package. Farmers will receive payments on a per-acre, county rate, with per acre rates ranging from $15-$150. Prevented plant acres with FSA-certified cover crops planted before August 1 will qualify for a $15 per acre payment. Sign-ups for the program began today and end on December 6, 2019. Payments will be broken into up to three tranches; the first payment is set to be released in mid-to-late August.

The Week Ahead

Tuesday, July 30, 2019
  • The Senate Finance Committee will hold a hearing on “The United States-Mexico-Canada Agreement.”
Wednesday, July 24, 2019
  • The Senate Ag Committee will hold a hearing on “Perspectives on Reauthorization of the US Grain Standards Act.”

MTA In Action

Smith Speaks to CIRB Members, Farm Credit Fly-In Participants & the Crop Insurance Caucus-This past week, Tara Smith spoke to CIRB members, participants of the Farm Credit Fly-in, and the Crop Insurance Caucus. On Tuesday, Smith spoke to a group of Hudson employees and agents about potential future challenges for crop insurance. On Thursday during the Farm Credit Fly-In, she participated in a panel discussion about crop insurance with other industry partners. Also on Thursday, Smith presented to the newly formed Crop Insurance Caucus about the Crop Insurance Coalition.
Tara Smith is pictured here presenting to the Crop Insurance Caucus about the Crop Insurance Coalition.
MTA Hosts Ag Intern Social- This past Monday, MTA hosted an ice cream social and reception for food and agriculture interns that are in DC for the summer. At the reception, Michael Torrey discussed the firm’s history and shared career advice with the attendees. The interns also mingled with each other and the MTA staff while enjoying ice cream.
Pictured above are (left) Michael Torrey presenting to the group and (right) Kerry Lynch conversing with interns.
MTA Team Members Attend FFA Reception at USDA- Marissa Dake (left) and Brooke Schafer (right) attended a reception for FFA leaders and alumni in the Whitten Courtyard at USDA. While there, they met with State FFA officers from around the country. Agriculture Secretary Sonny Perdue also gave remarks at the event.

 

A Quick Look Back