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Government Relations & Washington Update

September 2024

DHS Announces Addition to STEM Designated Degree List
The Department of Homeland Security has recently released its 2024 update to the STEM Designated Degree Program List. According to DHS, they received 133 nominations to add new degree programs to the list, including AAEA’s request to add Agricultural Business and Management (CIP 01.01) and Environmental/Natural Resource Economics (CIP code 03.0204). DHS only chose to add one program in 2024, Environmental/Natural Resource Economics (CIP code 03.0204). This addition is a direct result of AAEA’s submission in the summer of 2024. AAEA is seeking feedback on DHS’s decision not to include Agricultural Business and Management (CIP 01.01) in 2024 to strengthen future submissions. AAEA will continue to work through the DHS process to advocate for additions important to AAEA and its members.

Congress Returns to Full Agenda
Congress is slated to return to Washington from August recess on September 9th. They will be facing a full agenda and limited legislative days before key deadlines facing appropriations and the Farm Bill which both expire on September 30th. House and Senate leaders are already debating how to handle a continuing resolution to keep the government funded and avoid a shutdown. Many Democrats favor a short-term continuing resolution that runs just past the election, setting up final action on appropriations during the lame duck. Some House Republicans are pushing for a longer-term continuing resolution to provide funding into early 2025 that would avoid the crafting of an omnibus during the lame duck session. Regarding the Farm Bill, House and Senate leaders recognize that it is not realistic to complete legislation prior to expiration of current authority. While there is a possibility of action in a lame duck session after the election, it is appearing more likely that the Farm Bill will slide into 2025, necessitating another extension of the 2018 Farm Bill to avoid the impacts of a lapse in authority.

USDA Releases Updated Agricultural Trade Outlook
On August 27th, the U.S. Department of Agriculture’s Economic Research Service (ERS) released its latest Agricultural Trade Outlook. The report shows that the current trade imbalance in 2024 is expected to continue in 2025. Agricultural exports in 2025 are forecast to reach $169.5 Billion, while imports are forecast at $212.0 Billion. This represents a growing agricultural trade deficit reaching over $40 billion next year. The decline in exports is primarily driven by lower unit values of soybeans, corn, and cotton, as well as lower volumes of beef. Highlighted projections from the report include:

  • Beef exports are forecast at $8.4 billion, down $1.0 billion from FY 2024, as lower U.S. production reduces exportable supplies.
  • Overall livestock, poultry, and dairy exports are projected at $38.6 billion, down $100 million from FY 2024, as the decline in beef exports is mostly offset by higher exports of pork, poultry, variety meats, and dairy products.
  • Horticultural exports are projected to rise by $1.2 billion to a record $41.5 billion due to higher exports across all categories.
  • Agricultural exports to Mexico are forecast at $29.2 billion, down $100 million from FY 2024.
  • Mexico and Canada are projected to remain the first and second largest U.S. agricultural markets, respectively.
  • Agricultural exports to China are forecast at $24.0 billion, $3.0 billion lower than the revised FY 2024 estimate, driven by reduced import demand, strong competition, and lower unit values of key U.S. exports.