Farm state Senators this week introduced the Precision Agriculture Loan Act. Nebraska Republican Deb Fischer and Minnesota Democrat Amy Klobuchar say their bipartisan legislation would create a program within the Department of Agriculture to provide loan financing to farmers and ranchers interested in purchasing precision agriculture equipment. Precision agriculture is defined as a wide range of new technologies in farming and ranching that can allow producers to reduce their environmental footprint, lower costs, and improve productivity.
The Association of Equipment Manufacturers applauded the legislation Thursday. AEM President Dennis Slater states the legislation “will give U.S. farmers a whole new set of tools to help achieve climate goals while continuing to feed and fuel the world.” AEM’s own research shows that increased adoption of precision agriculture technology in the crop farming industry can have a significant environmental and economic impact for farmers. Senator Fischer adds the bill “will allow more producers to invest in the equipment they need to make their operations more efficient, environmentally-friendly, and productive.”