The 113^th Congress has the dubious distinction of being the second-least productive in history, surpassed only by the 112^th Congress.  Gridlock between the Obama Administration, Senate Democrats, and House Republicans continued to bottle up nearly all of the legislation passed by one chamber but not the other.  The mid-term election campaigns preoccupied Members of Congress throughout much of 2014.  And while the significant Republican gains in both the House and the Senate could result in greater cooperation going forward, the results are broadly seen as voter angst with the President and discontent with Congress’ continuing failure to address the Nation’s most pressing problems, and get things done.

Despite this negative political environment, U.S. agriculture in general and soybeans in particular achieved a number of major legislative and regulatory victories.  ASA worked hard to ensure that the new Farm Bill preserved planting flexibility by decoupling both the ARC and the PLC programs to prevent future production distortions between crops.  It also allows producers to update their payment yields and reallocate base acres.  It raised the soybean reference (target) price in the PLC program from $6.00 to $8.40 per bushel.  And it consolidated conservation programs on working lands and provided full funding for MAP and FMD – export promotion programs key to ASA, USSEC and WISHH’s success in developing foreign markets.

Also of great significance was the passage of the one-year tax extenders package, which included several provisions that have positive impacts on soybean farmers.  It reinstated expensing provisions, including the Section 179 small business limitation of $500,000 and the $2 million phase-out amount for property placed in service during 2014. The tax extenders package also restored the 50% bonus depreciation provision and the $1.00 per gallon biodiesel tax credit.

ASA was also successful in helping achieve several long-standing priorities for waterways infrastructure.  These included passage of the Water Resources Reform & Development Act (WRRDA), increased appropriations for the Army Corps of Engineers waterways operations and maintenance programs, and a nine cent per gallon increase in the barge fuel fee that funds infrastructure upgrades via the Inland Waterways Trust Fund (IWTF).  Within WRRDA were several significant policy victories that will result in additional revenues available for the IWTF and the Harbor Maintenance Trust Fund.  Together, the barge fuel increase and the increased revenues from the changes in WRRDA will yield $185 million per year in additional funding for waterways infrastructure improvements.

Just as important as these legislative “wins” were successful efforts by ASA and others on regulatory issues.  While EPA has yet to withdraw its proposed WOTUS rule, it is expected to undergo significant revision in 2015.  Another regulatory achievement was publication of a proposed rule that would allow aquaculture operations in the Gulf of Mexico, a critical first step to building a domestic aquaculture industry and opening opportunities to feed sustainably-produced U.S. soybeans to a growing industry here at home.

On trade, ASA was a leader in efforts by the U.S. Biotech Crops Alliance to convince the Obama Administration to make international biotech approvals a major trade policy priority.  This led to China’s decision to approve three longstanding applications for importation of biotech crops, including two soybean varieties, and to commit to a strategic dialogue on agricultural innovation and biotechnology.  And the Administration moved to establish formal diplomatic relations with Cuba, whose top imports in 2013 included frozen poultry, soybean meal, corn and soybeans.  ASA also continued to press the Administration on its priorities in the Trans Pacific Partnership (TPP) trade negotiations, and for maintaining and increasing access to EU markets in the Transatlantic Trade and Investment Partnership (TTIP) negotiations, including on biotech approval regulations and the sustainable agriculture requirements of the Renewable Energy Directive.

As our industry “counts its blessings” at the end of 2014, these achievements in the midst of a difficult political environment should be among them.  Let’s all hope that 2015 provides a more favorable climate for continuing to enhance opportunities for soybean farmers.

Best wishes from the ASA for a Happy and Prosperous New Year!