LUBBOCK, Texas (KCBD) – Congress is working to pass a new five-year farm bill. The current extension is set to expire on Sept. 30. The House is not in session until after the midterms.<\/p>\n
U.S. Sen. John Cornyn, R-Texas, sought input from South Plains farmers on how to improve the bill.<\/p>\n
Key provisions sought<\/p>\n
Kody Bessent, with Plains Cotton Growers, said there are a couple of key provisions they want to see in the new measure. He said it starts with making sure the marketing assistance loan works in the event of another government shutdown.<\/p>\n
\u201cThat\u2019s a component that\u2019s very important to the cotton industry here within the area, as well as conservation programs, making sure that they\u2019re well-equipped and well-heeled as people start to re-enroll in those programs,\u201d Bessent said.<\/p>\n
Economic impact on Lubbock<\/p>\n
Bessent, CEO of Plains Cotton Growers, said all of these components affect Lubbock. He said whenever there is a bigger economic value turnover in the community, people have a little more disposable income. He said the more fiber that goes to harvest affects the general economic conditions.<\/p>\n
\u201cWith these components within the Farm Bill helps elevate and really capitalize on that. And even more globally, looking at the trade title, my example,\u201d Bessent said.<\/p>\n
Buying American Cotton Act<\/p>\n
Bessent endorses the \u201cBuying American Cotton Act,\u201d saying it\u2019s aimed at building tangible demand for U.S. cotton in Lubbock. He said it would help local growers by creating a tax credit incentive for retailers and brands.<\/p>\n
\u201cThe idea is to bring back in more of US-derived fiber into the domestic textile industry or into the retailers and brands within their clothing line and utilizing US-derived products versus a competitor, be it Brazil or other competitors as well,\u201d Bessent said.<\/p>\n
Bessent said he hopes the community will remain mindful and thankful for farmers, even during a tough financial year.<\/p>\n
What\u2019s next<\/p>\n
The farm bill is pending before the full Senate, where it will need 60 votes to pass. The measure could reach the floor for a vote anytime through December. It will then require approval from the House of Representatives when it returns to Capitol Hill.<\/p>\n
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