AEM HAILS FARM BILL PASSAGE
Association of Equipment Manufacturers (AEM) issued the following statement praising Congress’s passage of the 2018 Farm Bill:
“This is a win-win for the 1.3 million men and women of our industry and the broader U.S. economy,” said John Lagemann, Senior Vice President, Sales and Marketing for Deere & Company and AEM Chair. “Farm policies have a major impact on the health of the agriculture economy, which is a key driver of equipment manufacturing employment. We applaud Congress on its bipartisan effort to pass this much-needed legislation and look forward to President Trump signing the 2018 Farm Bill into law.”
The 2018 Farm Bill now heads to White House for President Trump’s signature.
"The U.S. agriculture economy is the backbone of rural America, which underscores why passing pro-agriculture and pro-manufacturing policies are so important,” said Dennis Slater, president of AEM. “By signing the 2018 Farm Bill, President Trump will help preserve and expand programs important to the health of the farm economy and strengthen the U.S. agriculture equipment industry.”
Earlier this year, AEM sent Members of the U.S Senate a letter urging elected officials to pass the bill by highlighting the strong connection farm tractor and combine sales have with farm net cash income and showing how amendments harming crop insurance could negatively impact the agricultural economy.
The Agriculture Improvement Act includes the Precision Agriculture Connectivity Act of 2018, which is designed to improve rural broadband infrastructure, as well as policies that support production agriculture, conservation programs, research, expansion to foreign markets, and crop insurance – which helps protect up to 298 million acres of farmland a year.
There are 320,000 agricultural equipment manufacturing workers in the U.S. and the agricultural equipment manufacturing industry generates $102 billion in sales activity each year.
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry supports 1.3 million jobs in the U.S., and 149,000 more in Canada. Equipment manufacturers also contribute $188 billion combined to the U.S. and Canadian economies.