(Dec. 18, 2024 – WASHINGTON, D.C.) The United States Peanut Federation (USPF) supports the newly proposed continuing resolution (CR) bill to provide funding for Fiscal Year 2025 programs through March 14, 2025. USPF commends the efforts of Congressional agricultural leaders for ensuring crucial agricultural economic assistance and agricultural disaster assistance provisions were included in the legislation after extensive negotiations surrounding year-end funding.
Following a CR proposal that was withdrawn earlier this week, Speaker of the U.S. House Mike Johnson proposed an amended version of the CR legislation this evening, which still includes a one-year extension of the 2018 Farm Bill, agricultural economic assistance, and natural disaster assistance.
USPF members are supportive of the CR proposal released today, which provides $10 billion in economic assistance and $21 billion in natural disaster assistance to agricultural producers across the country. According to peanut economist Dr. Stanley Fletcher, with the legislation’s payment formula based on at least 8% of the crop’s reference price and the 2024 national peanut payment yield, peanut producers can expect to receive an estimated economic assistance payment of $76.30 per acre no later than 90 days after the bill is enacted.
USPF members are grateful to the legislators who worked to keep these initiatives attached to the CR legislation and are hopeful Congress will follow through by passing the CR as it currently reads by December 20, 2024.
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The United States Peanut Federation (USPF) is comprised of the Southern Peanut Farmers Federation, the American Peanut Shellers Association, and the National Peanut Buying Points Association. USPF serves as a unified voice in Washington D.C. for all sectors of the peanut industry and advocates actively for strong agricultural policy. For additional information, contact Lorene Parker at (202) 543-7464 or by emailing lparker@reddingfirm.com.