IL CORN THANKS U.S. HOUSE REPS FOR SUPPORTING FOREIGN MARKET WORK, PRAISES SENATE COMPANION BILL
IL Corn joins the National Corn Growers in praising the introduction of the CREAATE Act, a bill to increase investment in two federal programs with a proven track record of building global demand for U.S. agricultural products. IL Corn thanks Rep. Bustos, Rep. Bost, and Rep. Rodney Davis for co-sponsoring the bill in the House. We look forward to seeing our Senators from Illinois join the list of co-sponsors in the Senate. CREAATE stands for Cultivating Revitalization by Expanding American Agricultural Trade and Exports.
The bipartisan bill, introduced by Senators Angus King (I-Maine), Joni Ernst (R-Iowa), Joe Donnelly (D-Indiana), and Susan Collins (R-Maine), would increase investment in the Market Access Program (MAP) and Foreign Market Development program (FMD). The companion bill was introduced in the House earlier this year.
MAP and FMD are public-private partnerships that promote U.S. agriculture. Together, they are responsible for 15 percent of U.S. agricultural export revenue—$309 billion since 1977.
MAP and FMD are critical programs for building and expanding global markets for American agricultural exports. These programs deliver a strong return on investment. Every $1 invested in MAP and FMD generates $28 in exports—that means more American jobs, and more money coming into our communities. Now more than ever, we need to invest in export and market development programs like these to build global demand and help farmers’ bottom lines.
Funding for MAP and FMD has not kept pace with inflation, administrative costs, the growth of the global marketplace, or the investments other countries have made in their own export promotion. The FMD program is also under threat to lose its baseline funding when the farm bill expires in 2018.
The CREAATE Act would gradually increase MAP funding from $200 million to $400 million per year and FMD funding from $34.5 million to $69 million per year, over the next five years.