The Farm Act and Ag Greenhouse Gas Emissions Down

**The Farm Assistance and Revenue Mitigation, or FARM Act was introduced and sponsored by more than 40 members of Congress.

The legislation is intended to meet farmers’ immediate financial needs through economic assistance for the 2024 crop year.

Those that derive less than 75% of income from farming would be subject to a limitation of $175,000.

Those with at least 75% of their income from farming are limited to $350,000.

**The Farm Credit System reports combined net income is relatively stable at $1.98 billion for the third quarter, compared to $2 billion from a year earlier.

Through September 20th, combined net income increased 7.3% to $5.91 billion, compared to $5.51 billion last year.

Federal Farm Credit Bank reports overall credit quality remains strong, but results going forward may be impacted by a challenging ag economy and volatile political environment.

**From 2021 to 22, agricultural greenhouse gas emissions decreased from 681.6 to 663.6 million metric tons of carbon dioxide and decreased from a 10.8% to 10.5% share of the entire U.S. emissions.

The EPA’s 2022 estimates show agriculture emitted 390.1 million metric tons of nitrous oxide, 227 million of methane, 47.9 million as on-farm carbon dioxide.

The industrial sector is the largest contributor to total greenhouse gas emissions at 26%, followed by transportation and commercial.