U.S. Senator Chuck Grassley is urging the Biden administration to prioritize funding that improves transparency of foreign investments in U.S. farmland.
“Nearly half of U.S. farmland is owned by Americans over 65 years of age,” he said. “That means in the next 20 years, it could be up to 370 million acres of farmland changing hands.”
In a recent letter to USDA Secretary Tom Vilsack, Grassley says the agency needs to implement mandatory reporting requirements under the Farmland Security Act, a bill that became law at the end of last year.
Grassley asks USDA to implement Farmland Security Act reporting