Status Of Farm Bill 2024. The markup passed on may 24 boosts farm subsidies and crop insurance premium subsidies by $50 to $53 billion over the next 10 years, according to a summary by law firm. In may, republicans on the house committee on agriculture passed a version of the farm bill that would effectively cut nearly $30 billion in benefits over the next decade.
The approved legislation, a product of negotiations between the house and senate, extends provisions set by the 2018 farm bill through sept. The farm bill is made up of a diverse set of policies that cover everything from nutrition assistance programs, to crop subsidies and land and water conservation.