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WASHINGTON 鈥� While the United States agriculture industry faces significant issues of rising costs and increasing age among today's farmers and ranchers, proposed legislation aims to give those entering the industry a boost.

U.S. Sen. Tina Smith D-Minn., a member of the Senate Agriculture Committee, and U.S. Sen. Chris Murphy D-Conn., reintroduced the Student Loan Forgiveness for Farmers and Ranchers Act . The act was first introduced by Murphy in 2019.

The proposed legislation will create a loan forgiveness program for beginning farmers and ranchers, as well as women, veteran and minority farmers.

According to Smith, student loan debt is a major hurdle for beginning farmers and this legislation would incentivize farmers to enter 鈥� and stay 鈥� in the agricultural industry and would strengthen opportunities to grow successful businesses.

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鈥淎griculture is going through a generational change right now. The average age of farmers in the United States is 58 years old. We need to make sure we are ready for that transition by helping new and emerging farmers interested in getting into this field,鈥� Smith said in a statement. 鈥淭his is about food security. This is about national security. This is about supporting our rural economies. We can only do those things by breaking down barriers for beginning farmers, and one major barrier is student loan debt hanging over their heads.鈥�

Smith and Murphy鈥檚 legislation hopes to reduce barriers for young, diverse farmers hoping to take over as the current generation of farmers and producers begins to retire.

鈥淭o keep Minnesota鈥檚 agriculture economy thriving, we need to continue to invest in the next generation of farmers as the average age of farmers keeps going up. There is more we can be doing to help future farmers fill their shoes,鈥� Smith said. 鈥淪tudent debt is one of the most significant challenges our young farmers and ranchers face. This legislation would help encourage a younger, more diverse workforce and help more people start and stay in farming.鈥�

Smith also leads the Increasing Land Access, Security, and Opportunities Act, legislation that would increase access to capital for underserved farmers, boost training and economic opportunity for beginner farmers, and help make land more affordable for young and Black, Indigenous and other people of color farmers.