Thank you, Idaho farmers and ranchers

Many of us are shielded from the hard work of food production because of the unyielding work of Idaho farmers. Agriculture plays a critical role in our state’s economy. Row crop and ranching operations coupled with the significant food processing industry represent roughly 17 percent of Idaho’s total economic output and nearly 13 percent of its gross domestic product. This holiday season, especially, Idaho farmers deserve our gratitude for helping to meet rising food demand, as they face the tightest margins in years with costs outpacing revenues.

According to the Idaho Farm Bureau Federation, farmers across the state are facing significant financial strain:

• The average price for 100 pounds of fresh Russet table potatoes fell from $6.54 in 2024 to $4.40 in 2025, well below the break-even point of about $9.

• Farm-gate revenue in 2024 declined sharply: hay (–38 percent), hops (–24 percent), barley (–18 percent), potatoes (–7 percent) and wheat (–2 percent).

• Idaho’s net farm income in 2024 fell 13 percent from 2023 and 30 percent from 2022, totaling $2.6 billion.

• Intermediate farm production expenses rose 6 percent to $7.2 billion, driven by higher fertilizer, pesticide and irrigation costs.

• Farmers report that 2025 remains challenging as high input costs persist despite good yields.

The American Farm Bureau also reports, “Farming is a stressful occupation that is associated with increased levels of anxiety and depression. Multiple studies show that farmer suicide rates are 2-5x higher than the national average.” As we make sure everyone knows to dial 988 from any phone for suicide and crisis help (the Suicide & Crisis Lifeline), I am also committed to advancing farm policy that supports family-scale operations and promotes rural economic stability.

This includes the tax section of the One Big Beautiful Bill Act that better enables farm families to plan for the future and pass their farms onto future generations through provisions including:

• 100 percent bonus depreciation;

• increased small business expensing;

• permanent small business deduction;

• locked in and boosted standard deduction;

• permanent and doubled death tax exemption, indexed for inflation; and

• permanent 2017 Trump tax rates.

The OBBBA also extended and enhanced many farm safety net programs--a key achievement, as lawmakers work to reauthorize the Farm Bill and many of its programs that have continued under temporary extensions.

Holiday tables may vary, but many are filled with food grown in Idaho fields, which feed our state, nation and the world. This Thanksgiving, I offer my sincerest appreciation to all those involved in Idaho agriculture. The work you do every day to feed American families and many around the world is critical to our national security and the wellbeing of mankind.

Mike Crapo represents the state of Idaho in the U.S. Senate. He can be reached at crapo.senate.gov.