The U.S. House of Representatives recently passed three long-term spending bills, but an agriculture bill failed to pass. This marks a major failure for the current administration’s efforts to reduce the federal deficit and pass comprehensive fiscal reform.
The three spending bills that passed the House include the Department of Defense appropriations act, the financial services appropriations act, and the commerce, justice, science and related agencies appropriations act. Together, these three bills provide roughly $640 billion in additional funding for the Department of Defense, the Department of Justice, and the Department of Commerce over the next decade.
However, the agricultural appropriations bill failed to pass the House despite being strongly backed by the administration. The agriculture bill would have provided nearly $3 billion in additional spending for U.S. Department of Agriculture programs over the next 10 years. This bill had the potential to reduce the federal deficits and to fund new and necessary agricultural programs.
The failure of the bill is especially concerning given the current state of the agricultural industry. The Trump administration, through its executive order on so-called “Farm Bill Modernization”, has already caused significant damage to the agricultural industry. This failure to pass an additional farm bill likely means that these issues will remain unresolved and that the agricultural industry’s struggles will continue.
Many have criticized the House Republicans for not providing enough support to the agricultural appropriations bill. This is particularly concerning given the recent economic turmoil caused by the coronavirus pandemic. Without additional spending, it will be difficult for the agricultural sector to recover.
Despite the agricultural bill’s failure, the three new spending bills will provide a much-needed boost to the U.S. economy. These bills include billions in funding for critical infrastructure projects, national security, and many other key programs.
In the final analysis, the failure to pass the agricultural appropriations bill is a major setback for the current administration. However, the passage of the three long-term spending bills is a welcome development for the U.S. economy as the country attempts to recover from the coronavirus pandemic.