By Blake Jackson
Senators Tammy Baldwin (D-WI) and Mike Braun (R-IN) introduced the bipartisan Farm Transition Act of 2024 to address the challenges facing farming and agricultural land ownership in Wisconsin.
The legislation aims to establish the Commission on Farm Transitions, a vital initiative to study and alleviate barriers hindering the transition of agricultural operations to the next generation of farmers and ranchers.
With Wisconsin's farmland being a cornerstone of the state's identity and economy, Baldwin emphasized the urgency to support aspiring farmers amidst rising land costs and competition from investment firms.
The impending transfer of over 370 million acres of farmland in the next two decades, coupled with the significant increase in land acquisition by foreign entities, underscores the need for proactive measures to safeguard agricultural interests.
The bill recognizes the critical role of agriculture in Wisconsin's economy and food security, especially as the state faces challenges such as agricultural land loss and limited access to capital. Notably, between 2001 and 2016, Wisconsin lost 10 percent of its farms and 30 percent of its dairy farms, exacerbating the need for innovative solutions to preserve agricultural heritage.
The proposed Commission on Farm Transitions will focus on various aspects impacting the transition process, including land availability, infrastructure, access to credit, risk management tools, and mentorship programs. Additionally, it will assess federal tax policies affecting farm asset transfers and recommend incentives to facilitate the transfer of agricultural assets to the next generation.
The bipartisan effort also extends to the House, where the Farmland Transitions Act of 2024 was introduced by Representatives Caraveo (D-CO-8), Kelly (R-MS-01), Davis (D-NC-01), and Nunn (R-IA-03). Supported by organizations like the American Farmland Trust, Wisconsin Farm Bureau Federation, and Wisconsin Farmers Union, the legislation underscores the importance of addressing farm transition challenges and promoting sustainable agriculture practices.
Michelle Ramirez-White from the Wisconsin Farmers Union emphasized the Commission's potential to provide oversight and address barriers to farm transition, including foreign ownership of agricultural land. Tim Fink, Policy Director for American Farmland Trust, lauded the bill for its focus on identifying barriers and solutions crucial for ensuring the continuity of farming traditions.
Brad Olson, President of the Wisconsin Farm Bureau, highlighted the complexities of farm succession planning and voiced support for initiatives like the Farm Transition Act of 2024 to facilitate the entry of new farmers and ensure a smooth transition to the next generation. With the average age of farmers at 56 years old, proactive measures are essential to cultivate a new generation of agricultural stewards in Wisconsin.
Photo Credit: Wisconsin Farm Bureau
Categories: Wisconsin, Government & Policy