Finstad: Investigate foreign investment in US farms

Office of U.S. Rep. Brad Finstad

WASHINGTON — In a letter to the Government Accountability Office, U.S. Rep. Brad Finstad, R-New Ulm, joined House Republicans ing calling for a study of foreign investment in U.S. farmland and its impact on national security, trade and food security.

“Foreign-owned or leased acres drive up prices and make it more and more difficult for family farms to compete, said Finstad. “I know firsthand the importance of keeping farmland in the family, and the reality is, more than 37 million acres of American farmland are owned by foreign countries.

“We need more information about the long-term effect of foreign investment in our farmland, which is why I joined my colleagues in asking the GAO for a study that will give us a clearer picture of how we can best protect our farmers’ greatest asset.”

House Agriculture Committee ranking member Glenn “GT” Thompson, R-Pa., said foreign ownership and investment in U.S. agricultural land has nearly doubled in the past decade.

“This growing trend has elevated concerns regarding national security in a time of uncertainty that is already compounded by challenges to our supply chain infrastructure, high input costs for farmers, and geopolitical pressures,” he said. “It is critical for Congress to have a thorough understanding of foreign investment in our nation’s agricultural land.”

China’s ownership of U.S. farmland is a threat to food security and national security, said House Committee on Oversight and Reform ranking member James Comer, R-Ky.

“An affordable, reliable food supply is critical to our nation’s well-being and prosperity and we must ensure America maintains control of our nation’s resources,” Comer said. “We are calling on the Government Accountability Office to report on the scope of this threat to our food supply to inform Congress how we can best protect the security of the American people. Americans need transparency about the federal government’s efforts to address this growing problem.”


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