H.R.2043 - Agricultural Commodities Price Enhancement Act (119th Congress)
Summary
H.R.2043, the Agricultural Commodities Price Enhancement Act, proposes to increase the reference prices for wheat, corn, soybeans, peanuts, and seed cotton. This is achieved by amending Section 1111(19) of the Agricultural Act of 2014, adjusting the price per bushel or ton for each commodity. The bill aims to provide greater financial support to farmers by increasing the price floor for these key agricultural products.
Expected Effects
The immediate effect of this bill would be to raise the guaranteed minimum price that farmers receive for the specified commodities. This could lead to increased farm income and potentially influence planting decisions. Downstream effects could include changes in consumer prices for food and goods made with these commodities.
Potential Benefits
- Increased income for farmers producing wheat, corn, soybeans, peanuts, and seed cotton.
- Potential stabilization of agricultural markets by providing a price floor.
- Could incentivize domestic production of these commodities.
- May improve the financial health of rural communities dependent on agriculture.
- Could reduce the need for ad-hoc disaster assistance to farmers.
Most Benefited Areas:
Potential Disadvantages
- Potential increase in food prices for consumers.
- Could distort agricultural markets by encouraging overproduction of supported commodities.
- Increased government spending on agricultural subsidies.
- May disadvantage farmers who do not grow the supported commodities.
- Could lead to trade disputes with other countries if it violates international trade agreements.
Most Disadvantaged Areas:
Constitutional Alignment
The bill falls under the purview of Congress's power to regulate commerce, as outlined in Article I, Section 8, Clause 3 of the Constitution (the Commerce Clause). The Constitution grants Congress the power to regulate interstate commerce, which includes agricultural products. The bill does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).