Sunset behind the United States Capital in Washington D.C.A bipartisan bill introduced in the U.S. Senate would help farmers transition farmland ownership and address current barriers. Senate Ag Committee member Mike Braun, an Indiana Republican, says more than 370 million acres of farmland are estimated to change hands over the next two decades.

The Farm Transition Act of 2024 would reauthorize the Commission on Farm Transitions included in the 2018 Farm Bill to study and incentivize agricultural asset transfers. Braun says he expects several additional bills to be introduced in Congress to support farm transitions, increasing awareness of how additional estate taxes could negatively impact farms.

In addition to Braun, Wisconsin Democrat Tammy Baldwin is a co-sponsor. A companion bill has been introduced in the U.S. House by Representatives Yadira Caraveo (D-CO-8), Trent Kelly (R-MS-01), Don Davis (D-NC-01), and Zach Nunn (R-IA-03).

The American Farmland Trust, Wisconsin Farm Bureau Federation, and Wisconsin Farmers Union support the measure.

Read more on the bipartisan Farm Transition Act here.