With this new farm bill, we have turned the corner toward reliable farm income protection, far more help for farm conservation and strong new investment in rural America’s economic growth, jobs and quality of life. We have laid a solid foundation upon which to build a brighter future for farm families and rural communities in Iowa and across our nation.

Iowans deserve a lot of credit and thanks for their role in shaping this legislation. Since becoming only the second Iowan in history to chair the Senate Agriculture Committee, I have actively sought the advice of Iowans. They responded through letters, calls, e-mails, meetings in Iowa and through farm, conservation and other organizations. As a result, the new farm bill reflects Iowa values and perspectives.

We have finally corrected the major failing of Freedom to Farm – its lack of adequate farm income protection – by restoring a reliable farm income safety net. That is critical to Iowa’s farm families and to our state’s economy. Iowa is expected to receive an estimated $1.4 billion annually in farm program payments for the 2002-07 crop years – the highest of any state.

The bill reforms payment limitations by tightening the overall payment cap and disqualifying those with high incomes outside of farming from receiving payments. We have also ensured that farm program benefits will be seen in the light of day, by requiring USDA to track farm payments through partnerships and corporations to specific individuals. These are important steps toward future action on payment limits.

This farm bill also does more than any legislation since the 1921 Packers and Stockyards Act to ensure the competitiveness and fairness of agricultural markets. It will require country-of-origin labeling for meat, fish, fruits and vegetables; provide new protections for farmers producing hogs under contracts; and ensure that farmers can discuss the terms of production contracts with financial, legal and other close advisors.

This is a comprehensive farm bill which goes far beyond the limited scope of previous bills by strongly supporting conservation, rural development and renewable energy production. It also improves USDA nutrition programs, trade promotion, food aid and critical agricultural research projects.

Iowans take pride in protecting and conserving our land and other resources for future generations. In total, the farm bill increases support for conservation by 80 percent above current levels, and has been hailed by President Bush as having, “the strongest conservation provisions of any farm bill ever passed by Congress.”

Funds are greatly increased for existing conservation programs to help crop and livestock farmers and landowners conserve and protect soil, water quality, wildlife and other natural resources – and to save farmland from urban sprawl. For example, the Environmental Quality Incentives Program (EQIP) is increased more than five fold – from $2 billion to $11 billion over the next 10 years.

The largest new initiative in this bill is the Conservation Security Program, which I first introduced in 1999. It is a voluntary incentive program for adopting and maintaining conservation practices on land in production. Under this program the more conservation applied to the land, the higher the payments. Since Iowa has so much working agricultural land, the Conservation Security Program should be a great benefit to our state.

The farm bill also includes initiatives for expanding rural broadband access, funding rural water and wastewater systems and creating a new rural equity capital investment program. We also increased the funding for USDA value-added product development grants to assist producer groups in creating new processing and marketing opportunities for farm commodities.

I am particularly proud that for the first time ever the farm bill includes a specific energy title to promote farm-based renewable energy and bio-based products. These efforts will help create the agricultural markets of the future. Soon a company in Blair, Nebraska will begin providing corn based material for Coca-Cola cups. Another company in Waverly, Iowa will soon supply the Norfolk Southern railroad with grease made from soybeans to apply to their railroad tracks nationwide.

These are the markets of the future – with virtually unlimited potential. Because of this farm bill the federal government will be a partner in expanding these markets. As the single largest consumer we have in this country I felt the government should lead by example. So I put in the bill a requirement that they give preference to purchasing bio-based products.

All of these initiatives make up one of the broadest farm bill in history, a farm bill that is the right approach for Iowa and our nation. It marks a new direction in federal policy that reflects the hard work of America’s farmers and the needs of all rural Americans. It is the much-needed economic stimulus bill for rural America.