Press Releases
Finstad Joins Ranking Members Thompson & Comer in Letter to GAO on Foreign Investment in U.S. Farmland
October 4, 2022
WASHINGTON, D.C. – Congressman Brad Finstad (MN-01) joined House Committee on Agriculture Ranking Member Glenn “GT” Thompson (PA-15) and House Committee on Oversight and Reform Ranking Member James Comer (KY-01) along with 127 fellow Republican colleagues in a letter to the Government Accountability Office (GAO), requesting a study be conducted on 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 Rep. 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.”
“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," said Rep. Thompson. "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 our food security and national security. 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," said Rep. Comer. "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."
Click here to read the letter.
“Foreign-owned or leased acres drive up prices and make it more and more difficult for family farms to compete, said Rep. 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.”
“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," said Rep. Thompson. "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 our food security and national security. 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," said Rep. Comer. "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."
Click here to read the letter.
