Agricultural technology advancements and adoption could be accelerated by federal legislation.
U.S. Congressman Randy Feenstra, a Republican from Iowa, says he was inspired to come up with the Precision Ag Loan Program Act after last year’s Farm Progress Show.
“We have all this great technology out there and and producers say it would be great to have but (they) can’t afford it. So I said we’ve got to change that.”
The bill would allow USDA’s Farm Service Agency to offer $500,000 loans at two percent interest for the purchasing of precision ag equipment like geospatial mapping and data management software.