U.S. Reps. Ashley Hinson (R-IA) and Randy Feenstra (R-IA) on Nov. 20 proposed the Fertilizer Research Act, which aims to enhance certainty and transparency for farmers navigating high input costs.
If enacted, H.R. 6192 would require the U.S. Department of Agriculture (USDA) to conduct a study of the market factors driving up input costs, including competition, long-term market trends, and regulatory costs.
“America’s farmers are being squeezed by high fertilizer costs and low commodity prices, making it incredibly difficult to afford the inputs needed to maintain strong yields,” said Rep. Hinson, who sponsored H.R. 6192. “Family farmers in Iowa tell me they need greater price transparency and stability, and my bipartisan bill delivers just that by increasing visibility into the factors that drive costs and supply.”
Within one year of the enactment of H.R. 6192, the USDA Secretary, in consultation with the Economic Research Service, would be required to issue a report on USDA’s website regarding the U.S. fertilizer industry.
Specifically, the report would include a description of impacts on the fertilizer market that influence price; market trends in the past 25 years; a description of the imported fertilizer and market impacts; and the impacts of anti-dumping and countervailing duties.
Additionally, the report would include an assessment of the regulatory environment governing fertilizer production; a study of fertilizer industry concentration; a study of emerging fertilizer technologies; and a description of whether current public price reporting is sufficient for market transparency, according to a bill summary provided by the lawmakers.
“Representing one of the largest agricultural districts in the country, common-sense ways that we can help lower the prices of input costs like fertilizer is critical so that our farmers can keep feeding and fueling our country and the world,” said Rep. Feenstra, a cosponsor of H.R. 6192. “It’s why I’m glad to help introduce legislation that will deliver more transparency into the factors driving up the cost of fertilizer, and ultimately, help reduce financial pressures for farmers.
“By lowering costs for our producers, we can keep Iowa farmland in the hands of Iowa farmers and help the next generation carry on our proud agricultural traditions,” he added.
U.S. Rep. Nikki Budzinski (D-IL) joined Rep. Feenstra as an original cosponsor of H.R. 6192, which is under consideration by the U.S. House Agriculture Committee.