Policy Brief

The One Big Beautiful Bill (OBBB) promises billions in new farm subsidies, but most of that money won’t go to the farmers who need it most.

This brief describes how the OBBB’s changes to agricultural subsidy programs will disproportionately benefit large farms and non-farming investors, accelerating farm loss and consolidation across the United States.

The authors argue that without reforms, the OBBB will inflate land values, raise barriers for new and small farmers, and further fuel absentee farmland investment. The authors also identify four straightforward policy fixes that could prevent these devastating consequences.