FARM Act
Rep. Jackson Introduces Bipartisan FARM Act to Limit Foreign Control of U.S. Agriculture
The FARM Act is currently in the early stages of the legislative process and is being reviewed by a House subcommittee. It was recently sent to the Committee on Agriculture and the Committee on Financial Services for further study. The bill is actively moving through the committee phase.
Legislative Progress
The bill has strong bipartisan support and addresses a popular concern about foreign land ownership, but it must still pass through multiple committees.
Key Points
Impact Analysis
Personal Impact
American farmers and ranchers gain stronger protections against foreign takeovers of agricultural businesses and farmland, which could help preserve domestic ownership and competition. However, restrictions on foreign investment could also reduce the pool of potential buyers for farmland and agricultural operations, potentially limiting sale prices and capital inflows that some farmers rely on for retirement or business transitions.
“Any transaction, merger, acquisition, transfer, agreement, takeover, or other arrangement that could result in foreign control of any United States business that is engaged in agriculture and uses agricultural products”
Milestones
Referred to the Subcommittee on Nutrition and Foreign Agriculture.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
6 articlesSens. Tuberville, Fetterman reintroduce bill on foreign investment in American agriculture
U.S. Sens. Tommy Tuberville and John Fetterman reintroduced the Foreign Adversary Risk Management (FARM) Act to permanently add the Secretary of Agriculture to CFIUS. The bill aims to protect the U.S. food supply by designating agricultural supply chains as critical infrastructure.
A Hard Fight Ahead: The bipartisan FARM Act has been reintroduced
Senator Tommy Tuberville discussed the reintroduction of the Foreign Adversary Risk Management Act, which seeks to protect the agricultural industry from foreign investment and consolidation by giving the Secretary of Agriculture a seat on the federal committee that reviews national security risks.
This one goes to 11; another attempt to put Agriculture Sec. on CFIUS
Congressional leaders have floated an updated version of the FARM Act for the eleventh time. The bill would add the Secretary of Agriculture to CFIUS and designate agricultural supply chains as critical infrastructure and critical technology to increase oversight of foreign investment.
Source Information
Document Type
Congressional Bill
Official Title
FARM Act
Data Sources
Sponsor
Cosponsors
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