Kansas Lawmakers Reconsider School Vouchers
TOPEKA, Kan. (KNS) - Kansas lawmakers will likely try again to pass a voucher program that lets students go to private school using public money. The bill narrowly failed in the Legislature last week but the idea has resurfaced. The day the bill faltered in the Kansas Senate last week, three senators were absent. Republican Senate President Ty Masterson says his chamber will try again when lawmakers return from their spring break later this month. The bill failed after opponents said it would take away funding from public schools and doesn’t have enough accountability. State Senator Molly Baumgardner supported the plan and disagreed with the criticism. “There is going to be accountability, there's a mandate for accountability," she said. The bill would give students about $5,000 to spend on private school or other educational expenses. Supporters say the legislation gives students a chance to pick schools best for them. Democratic State Senator Dinah Sykes opposes the idea. She says it lacks oversight to ensure kids get a good education at private schools. “It's puzzling to see the text and hear the rhetoric of these bills that require no assessment or objective measures for success," she said.
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Kansas Senator: Secure Southern Border Before Sending More Money to Ukraine
WICHITA, Kan. (KMUW/KNS) - Kansas Senator Roger Marshall doesn’t want any more federal money sent to fight the war in Ukraine until the Biden Administration secures the southern border. The Great Bend Republican made the remarks during a chamber of commerce event Tuesday in Wichita. The U.S. has provided more than $113 billion in aid to Ukraine since Russia invaded last year. Marshall says the U.S. should prioritize spending on domestic issues, like the southern border before trying to secure the border of a foreign country. "We should not be spending any more money in Ukraine until we secure our own border. Our open southern border is the number one most immediate national security threat to this nation," he said.
Republicans are split on the issue of funding. A group of conservatives in Congress introduced a resolution last February to end aid to Ukraine. Marshall was not part of the group, but he did oppose a $40 billion aid package to Ukraine last May. His counterpart, Kansas Senator Jerry Moran, voted for the funding. "This is turning into a proxy war between the United States and Russia," Marshall said. "I’m not happy with the situation right now."
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Judge Blocks Rules Intended to Protect Nation's Waterways
DES MOINES, Iowa (AP) — A federal judge on Wednesday temporarily blocked a federal rule in 24 states that is intended to protect thousands of small streams, wetlands and other waterways throughout the nation.
U.S. District Judge Daniel L. Hovland in Bismarck, North Dakota, halted the regulations from the U.S. Environmental Protection Agency and U.S. Army Corps of Engineers pending the outcome of a lawsuit filed by the 24 states, most of which are led by Republicans. The regulations were finalized in December 2022, repealing a rule implemented during President Donald Trump's administration but thrown out by federal courts.
Opponents of the regulations, which define which “waters of the United States” are protected by the Clean Water Act, have called the rules an example of federal overreach and argued they would unfairly burden farmers and ranchers.
The preliminary injunction affects Alabama, Alaska, Arkansas, Florida, Georgia, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Utah, Virginia, West Virginia, and Wyoming. An injunction was previously issued that halted the rules in Texas and Idaho.
"Once again, the courts have affirmed that the Biden administration’s WOTUS rule is overreaching and harmful to America’s beef farmers and ranchers,” said Todd Wilkinson, a South Dakota cattle producer and president of the National Cattlemen's Beef Association. “Cattle producers in 26 states now have some additional certainty while this rule is being litigated and we are optimistic that the Supreme Court will provide nationwide clarity on the federal government’s proper jurisdiction over water.”
The EPA said in a statement that the agency and the Army Corps of Engineers were reviewing the decision but still believe the regulations were “the best” interpretation of the Clean Water Act. The agency says its rules would still stand in states not included in the injunction.
“The agencies remain committed to establishing and implementing a durable definition of ‘waters of the United States’ informed by diverse perspectives,” the EPA said in the statement. “Our goal is to protect public health, the environment, and downstream communities while supporting economic opportunity, agriculture, and industries that depend on clean water.”
The injunction comes less than a week after President Joe Biden vetoed a congressional resolution that would have overturned the rule. The House and Senate had used the Congressional Review Act to block the regulations, with several Democrats joining Republicans in opposing the regulations.
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Kansas Man Convicted of Murder in Child's Malnutrition Death
TOPEKA, Kan. (AP/KPR) — A Kansas man has been convicted of murder after his 2-year-old daughter died of malnutrition while the man was passed out for days from intoxication. Prosecutors say Jeffrey J. Exon was convicted Monday in the death of Aurora Exon at their home in Topeka. According to the Topeka Capital Journal, investigators found that Exon would not feed or attend to his children for days because of his addiction issues. Exon's 6-year-old son, who was 4 when his sister died, testified at trial that his dad locked them in their rooms for several days without food while he "slept." Jeffrey Exon called authorities to the home on January 5, 2021, when Aurora was found dead. Five empty liquor bottles were found in his bedroom, investigators said.
Exon was convicted of aggravated child endangerment, first-degree murder in the commission of a felony, reckless but unintentional second-degree murder and failure by a parent to report the death of a child. Seonaid Nichols, the children's mother, said she agreed to give James Exon custody of the children because her living conditions didn't allow her to take care of them. Exon is scheduled to be sentenced July 28.
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Former Kansas Police Officer Pleads Guilty to Sex Assaults
HUTCHINSON, Kan. (AP) — A former Kansas police officer has pleaded guilty to a series of sexual assaults that prosecutors say occurred when he stopped his victims claiming to want to question them about drugs. The Hutchinson News reports that Todd W. Allen entered the guilty pleas Monday to 12 felony sex charges and five breach of privacy charges under a plea deal in which he must serve at least 20 years in prison and no more than 23 1/2 years. Allen is free on $250,000 bond and must wear an ankle monitor while he awaits sentencing in May. He waived his right to a jury trial and must registered as a sex offender as part of the plea deal. Allen was arrested in August 2022 and originally charged with 17 felonies, including rape, sexual battery and indecent liberties with a child between the ages of 14 or 15. The assaults occurred between 2012 and 2018, while Allen was a Hutchinson police officer.
He also was charged with five misdemeanors of breach of privacy, which occurred after he resigned from the police force in 2019 and became a security guard at Hutchinson Regional Medical Center. Court documents say there were 10 sexual assault victims. Prosecutors said most of the victims were in cars with a friend, brother or boyfriend when Allen would ask the females to get out of the car. The assaults occurred while Allen questioned the victims about drugs, they said. Allen was caught after he was seen on a citizen's security tape looking over a fence. He had looked into windows on several prior occasions, according to court records. Reno County District Attorney Thomas Stanton said Allen was not on duty during the sexual assaults.
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Giant Solar Power Generation Facility Proposed North of Lawrence
LAWRENCE, Kan. (The Lawrence Times) - A division of oil giant Royal Dutch Shell is proposing to build a solar energy facility covering more than a square mile just north of Lawrence, near Midland Junction. The Lawrence Times reports that the “Kansas Sky Energy Center” would supply electrical power to local utility Evergy Inc., which would ultimately own the facility. Savion LLC, based in Kansas City, said it has acquired more than 1,100 acres of land — currently used as farmland — on which to build the giant solar array. It said the solar collection equipment would cover as much as 734 acres of the land.
The company did not disclose any financial details or announce the timing of the proposed project. A company official declined to answer questions unless they were submitted by email and referred a reporter to the press release on the project’s website. Savion said it plans to hold a public information meeting about the project at 4:30 pm Thursday at Sunflower Cafe in downtown Lawrence (second floor of 804 Massachusetts Street).
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ESU President, Emporia Mayor at Odds over Recently Announced Bonuses
EMPORIA, Kan. (KVOE) - Emporia State University President Ken Hush and Emporia Mayor Susan Brinkman are publicly at odds over a recently announced bonus for professors. The move follows a mass exodus of tenured professors who were let go following a policy decision to reduce costs at the school. KVOE reports that ESU President Ken Hush sent an open letter that touted the university’s new performance stipends and criticized Emporia Mayor Susan Brinkman for questions about the motives behind the bonuses. Hush’s letter was released on Monday, April 11, and said comments attributed to the Mayor in a Kansas Reflector article were “uninformed,” “reckless” and “cannot be tolerated.” In an interview with KVOE News, Brinkman, a former ESU faculty member, said, “How Emporia State runs its business is its business” — although she never received a performance bonus during her 20 years at the university. However, she says the timing and lack of background information didn’t look good from her perspective.
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Governor Celebrates $15 Million Railroad Improvement Project in Southwest Kansas
HUGOTON, Kan. (KPR) – Governor Laura Kelly helped break ground today (WED) on a railroad improvement project in southwest Kansas. The ceremony in Hugoton celebrated upcoming improvements to the Cimarron Valley Railroad from Dodge City to Hugoton. The railway was awarded nearly $15 million from both private and public sources, including the federal Consolidated Rail Infrastructure and Safety Improvements (CRISI) fund and the Kansas Department of Transportation (KDOT), to complete the Southwest Kansas Infrastructure Upgrade Project. The governor says the upgrades are particularly beneficial to the state's agriculture industry.
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Location for Lawrence Whataburger Confirmed by Realtor
TOPEKA, Kan. (WIBW) - A location for a new Whataburger in Lawrence has been confirmed by a realtor involved in the process. Ryan Schulteis, a realtor with Reece Commercial Real Estate, says that a Whataburger developer closed on the purchase of a property at 23rd and Louisiana Street. WIBW TV reports that construction is still a few months out. An open date has not been set yet. Whataburger first filed plans to come to Lawrence in 2022.
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Belle Plaine Implements Quiet Zone, Limiting Frequency of Train Horns
BELLE PLAINE, Kan. (KWCH) - With the exception of an emergency, the sound of a train horn blowing will be one you’ll soon hear far less often in Belle Plaine. It’s now a federally regulated “quiet zone.” KWCH TV reports that the designation limits train conductors on being allowed to sound their horns as they travel through town. The Bartlett Arboretum and the Belle Plaine residents spearheaded the project. Each day, more than 50 trains travel through the crossing on Kansas Highway 55. With that often comes a disruption to the arboretum, a place associated with peace and quiet. Bartlett Arboretum owner Robin Macy said nearly 200 trains pass by each day during peak season. "That is one train every five to seven minutes, blowing its horn at 98 to 107 decibels,” Macy said.
Quiet zones have additional safety measures at crossings since trains don’t use horns. These include concrete barriers with pylons installed in the roadway to prevent drivers from going around crossing arms. A grant from the Kansas Department of Transportation and donations helped pay for the project. Dodge City and Overland Park are among seven other Kansas communities who’ve also applied for quiet zone designations.
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Police Identify Central Texas Murder Suspect Arrested After Chase in Kansas
WICHITA, Kan. (KWTX/KWCH) - The Wichita Police Department has identified a Texas murder suspect arrested Saturday after a chase in west Wichita. Authorities say 27-year-old Derek Joseph Daigneault is in the Sedgwick County Jail on several charges. KWXT TV reports that police in Robinson, Texas, reached out to alert Wichita police that it was looking for a murder suspect believed to be in the Wichita area. Robinson is a small town near Waco. Wichita police officers began a pursuit in west Wichita Saturday night after officers detected Daigneault’s vehicle. Officers attempted to pull the vehicle over and a chase ensued. Police say Daigneault wrecked his vehicle, hitting multiple cars at the intersection of 13th and Tyler. No one was injured.
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U.S. Urges Meat Companies to Ensure They Don't Use Child Labor
OMAHA, Neb. (AP) — The Biden administration is urging U.S. meat processors to make sure children aren't being illegally hired to perform dangerous jobs at their plants.
The call comes after an investigation found more than 100 kids working overnight for a company that cleans slaughterhouses, handling dangerous equipment like skull splitters and razor-sharp bone saws.
Agriculture Secretary Tom Vilsack sent a letter Wednesday to the 18 largest meat and poultry producers urging them to examine the hiring practices at their companies and suppliers. The letter is part of a broader effort by the administration to crack down on the use of child labor. The Labor Department has reported a 69% increase since 2018 in the number of children being employed illegally in the U.S.
"The use of illegal child labor — particularly requiring that children undertake dangerous tasks — is inexcusable, and companies must consider both their legal and moral responsibilities to ensure they and their suppliers, subcontractors, and vendors fully comply with child labor laws," Vilsack said in the letter.
Just last year, the Labor Department found that more than 3,800 children had been working illegally at 835 companies in various industries. In the most egregious recent case, Packers Sanitation Services Inc., or PSSI, agreed earlier this year to pay a $1.5 million fine and reform its hiring practices after investigators confirmed that at least 102 kids were working for the company at 13 meat processing plants nationwide.
PSSI, which is based in Wisconsin, employs about 17,000 people working at more than 700 locations, making it one of the largest food-processing-plant cleaning companies. The plants where PSSI was found to be employing minors were in Arkansas, Colorado, Indiana, Kansas, Minnesota, Nebraska, Tennessee and Texas.
The Labor Department says it has more than 600 child labor investigations underway and officials are concerned about the exploitation of children, particularly migrants who may not even have a parent in the United States.
Several federal agencies launched a broad effort to combat child labor earlier this year, and officials asked Congress to increase the penalty for violations because the current maximum fine of $15,138 per child isn't enough of a deterrent to big companies.
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Has "Tornado Alley” Moved East?
UNDATED (HPM) - This year has already been an active one for tornadoes, with multiple outbreaks across the Midwest and South at the end of March. But recent weather patterns seem to have shifted many of the twisters to the east of the Great Plains. Over the past 40 years, storm researchers have documented a steady rise in the number of tornadoes forming in states east of the Mississippi River. Victor Gensini is a professor of meteorology at Northern Illinois University who published a paper on the topic in 2018. He says updated figures from that research show the trend isn’t slowing down. “That increasing frequency along and east of the Mississippi River is incredibly important for society,"he said. "We are essentially more vulnerable as you move east because we have a greater population density, we have more assets, a bigger human exposure.” Gensini says communities in the Midwest and south need to be prepared since it only takes a single tornado to cause massive damage.
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NOAA: Recent Tornado Seasons Have Become Deadlier
UNDATED (HPM) - This year has already been the third deadliest for tornadoes in the past decade - and tornado season is just starting. Still, experts say that doesn’t mean more major tornadoes are expected through the rest of April, May and June. Herald Brooks is a researcher at NOAA’s national severe storm lab. He says tornadoes have to have the right conditions to form: warm moist air and wind that changes speed and direction with height. “Most of the tornadoes occur in the spring because that’s when both things are pretty (common)," he said. Brooks says tornado frequency in the springtime is one of the hardest things for forecasters to predict.
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Federal Judge's Ban on Abortion Pills Could Affect Kansas
WICHITA, Kan. (KNS) - A federal court ruling revoking the FDA’s authorization of a key abortion drug won’t immediately shut down its use in Kansas. But the Kansas News Service reports that could change by the end of the week. A nationwide ban on the abortion pill mifepristone will take effect this Friday, unless a federal appeals court intervenes. Until then, Kansas clinics say they’ll continue prescribing the drug. But after that, it's anyone's guess. “I think nobody really knows quite what it means yet," said Attorney Teresa Woody, who has represented Kansas abortion providers. If mifepristone becomes unavailable, some clinics say they’ll pivot to a different medication abortion regimen that relies on a drug called misoprostol. Medication abortion accounts for more than two-thirds of abortions in Kansas.
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Kansas Raises Minimum Smoking Age to 21
TOPEKA, Kan. (AP/KPR) — Kansas will have to be 21 or older to legally buy tobacco products starting July 1. Governor Laura Kelly announced Tuesday that she had signed the bill raising the age to buy cigarettes, electronic cigarettes and other tobacco products from 18 to 21. The bill received bipartisan support in the Legislature. The federal government raised its age to 21 in 2019 and Kansas could have lost federal funds for substance abuse programs if it did not also raise the age. Kansas joins 41 other states that have increased the age for legal tobacco buying to 21. Public health officials argue that raising the age to purchase tobacco products will reduce their use and result in lower health care costs.
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Kansas Man's Lawsuit Alleges He Was Chased, Tased for Speeding
KANSAS CITY, Kan. (AP) — An 80-year-old Kansas man was pursued by police and tased by a deputy — all for driving 3 mph (5 kph) over the speed limit, a federal lawsuit claims.
John J. Sigg sued Monday, naming Allen County Sheriff Bryan J. Murphy and former Deputy Joseph Stotler. Sigg's lawsuit seeks $250,000 in actual damages and an equal amount in punitive damages.
Murphy and Stotler do not yet have attorneys. An email message left Wednesday with the sheriff wasn't immediately returned. No phone listing for Stotler could be found and it wasn't immediately clear when, or why, he left the department.
On April 16, 2021, Sigg was clocked by an Iola, Kansas, officer going 38 mph (61 kph) in a 35 mph (56 kph) speed zone. A pursuit began. The lawsuit said Sigg was unaware police were following him even though law enforcement vehicles from other departments joined the pursuit in an area that is about 100 miles (161 kilometers) southwest of Kansas City, Missouri.
Sigg drove to a car lot operated by his family. When he got out of his car, officers surrounded him and two officers from nearby Chanute, Kansas, drew their guns, the lawsuit said.
“Sigg looked at them quizzically and raised his hands,” the lawsuit stated. That's when Stotler demanded that Sigg get on the ground and without warning, used the Taser on him, even though the maker of the stun gun had warned against using it on the elderly, the lawsuit stated.
“At no time after exiting his vehicle did Sigg make a hostile motion or make physical or verbal threats,” the lawsuit stated. “There was no risk that the 80 year old man was going to run from the officers and they had no concern that Sigg had a firearm.”
The lawsuit said Sigg began mumbling in a way that was “hard to understand,” and told an officer he didn't feel right. Sigg was treated at an emergency room.
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Bodies of Missing KC Musician, Son Recovered from Arkansas Lake
BENTONVILLE, Ark. (AP/KPR) — Authorities say the bodies of a Kansas City area musician and his son have been recovered from an Arkansas lake more than three weeks after the two went missing during a kayaking trip. Lt. Shannon Jenkins, of the Benton County Sheriff's Office, said Sunday that the bodies had been identified as those of 47-year-old Chuck Morris and his 20-year-old son, Charley Morris. The two men had last been seen on March 16 while on a kayaking trip to Beaver Lake in Arkansas. Chuck Morris was a percussionist who for more than two decades had been a member of the instrumental jam band Lotus.
The Northwest Arkansas Democrat-Gazette reported that a search crew found their bodies over the weekend while searching the lake with an underwater drone. The band Lotus posted a statement from the Morris family on its Facebook page saying relatives had spoken with Arkansas authorities and were told the men drowned. A Facebook statement from the band said proceeds from upcoming concerts in Denver; Harrisburg, Pennsylvania; and Port Chester, New York, will go to benefit the Morris family. "Thank you all for the outpouring of support from around the world — we feel it and love you just as much," the band posted.
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Woman Charged After Flight Diverted to KC
KANSAS CITY, Mo. (AP) — A woman is facing federal charges after she allegedly created a disturbance that forced a fight to be diverted to Kansas City. Federal prosecutors say 32-year-old Chloe DaSilva is charged with interfering with a flight attendant. DaSilva was a passenger on an Alaska Airlines flight from San Francisco to Chicago’s O’Hare International on Friday. Passengers told investigators that DaSilva, whose hometown was not available, became abusive toward a flight attendant and threatened to kill him. She was eventually restrained with zip ties. The pilot told investigators he decided to divert the plane to Kansas City International Airport out of concern for passenger safety.
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Kansas City Gears Up to Host NFL, 300,000 People Expected
KANSAS CITY, Mo. (NBC) - Kansas City expects about 300,000 fans when it hosts the NFL draft later this month. NBC News reports that favorable weather conditions could push the number even higher, possibly challenging the record of 600,000 in Nashville from 2019. The outdoor event runs from April 27 to 29. Forbes.com predicts the three-day event is expected to have a $100 million impact on the city, from hotels to restaurants to the various other ways money changes hands. Organizers say the NFL draft is probably the largest sporting event Kansas City has ever hosted. Six years ago during the NZFL draft, the Kansas City Chiefs selected a young quarterback named Patrick Mahomes.
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Douglas County DA Asking College Students to Join Sexual Assault Task Force
LAWRENCE, Kan. (LJW) - The Douglas County District Attorney’s Office is accepting applications from area college students to take part in a new sexual assault task force. The Lawrence Journal World reports that the new task force will help the DA’s office improve sexual assault education and prevention efforts. Two students will be selected from each of three area schools: the University of Kansas, Haskell Indian Nations University and Baker University. The office is currently accepting applications for the task force for the 2023-2024 school year. Interested students should contact the Douglas County DA's Office
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Wildfire Training Underway in Kansas
SCOTT COUNTY, Kan. (HPPR/KNS) - April is typically the windiest month in Kansas, and that can make this the toughest time of the year for wildland firefighters. But real-world training efforts are helping more firefighters get prepared. There’s not much firefighters can do to limit the spring winds that make this time of year so dangerous for wildfires in western Kansas. But training the next generation of firefighters about taking proactive steps, such as removing dry brush with chainsaws and clearing land with prescribed fires, can limit the damage wildfires inflict.
Logan Branam is one of more than two dozen Hutchinson Community College fire science students who participated in a recent Kansas Forest Service training at Lake Scott. He says this hands-on experience is preparing him for his summer job on a wildland fire crew. “This is way different. I feel like I've learned more here in the past few days than I do in classrooms," he said. The event also trained personnel from local fire departments in western and central Kansas and from the National Guard.
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Billionaires Quietly Amassing Farmland; What Could This Mean for The Future of Agriculture?
UNDATED (AP) - No, Bill Gates does not own 80% of all U.S. farmland. The billionaire philanthropist and Microsoft founder recently cleared the air on his 11th Ask Me Anything (AMA) session on Reddit. In response to a question, "Why are you buying up so much farmland, do you think this is a problem with billionaire wealth and how much you can disproportionately acquire?" Bill Gates responded, "My investment team bought the farmland. (But,) It is less than .1% of all U.S. farmland because the ownership is so diverse. We invest in the farms to raise productivity. Some are near cities and might end up having other uses." The purchase of over two thousand acres of prime North Dakota farmland by a group connected to Bill Gates has evoked strong feelings regarding laws from the Great Depression era created to safeguard family farms and has raised questions about the billionaire's motives.
Farmland as an Investment
Farmland investing has a long history of producing stable returns. The returns are due to increasing farmland values and the profit from the cash crops.
The Federal Reserve Bank of Kansas City published its report titled "Growth in Farmland Values Slows Amid Higher Interest Rates." The report highlights that farm real estate values increased considerably in 2022 but showed signs of softening during the final months of 2022 as interest rates rose sharply.
Elevated commodity prices continued to support profit opportunities for many producers across the farm sector, but concerns about operating expenses, higher interest rates, and intense drought persisted.
According to the USDA, inflation-adjusted net farm income is forecast to be $167.3 billion in 2022. It represents an 8.3-percent increase from 2021 and the highest level since 1973.
The global population has been increasing, and the demand for food has been steadily growing. A meta-analysis of projected global food demand by Nature indicates the total global food demand is expected to increase by 35% to 56% between 2010 and 2050. It will have a significant impact on agricultural markets. Farmers worldwide need to boost crop production somehow by expanding the amount of farmland devoted to agriculture or by increasing productivity on existing agricultural properties.
Currently, investors are attracted to farmland due to its low correlation with the stock market's volatility. This makes it an exceptional tool for diversifying portfolios.
Farmers have pricing power for their crops. Food is not a discretionary item on any budget. Farmland increases in value when agricultural products increase since the underlying land becomes more valuable. It makes farmland well-suited to retain value over time, even during recessions or inflationary environments.
The Lure of Alternative Assets
Billionaires and high-net-worth endowment funds have always diversified their investments from stocks and bonds into alternative assets.
Although Bill Gates is the largest private farmland owner in the U.S., other billionaires are also landowners. The billionaire media mogul Ted Turner owns 2 million acres, while Amazon founder Jeff Bezos has amassed 420,000 acres. In a 2014 letter to investors, Warren Buffet described farmland as an investment with "no downside and potentially substantial upside." Large institutional investors have favored farmland for a long time. The top U.S. university endowment funds have invested billions in cropland and other real estate investments.
The tax exemptions granted to pension funds and endowments in the United States undoubtedly bolster the financialization of farmland.
Federal tax regulations stipulate that most private foundations must spend a minimum of 5 percent of their net assets annually to maintain their tax-exempt status. Universities are excluded from this mandate, and their investments' income does not face the 15 percent federal capital gains tax.
Examining The Impact of Financialization on Agriculture
The way farmland is utilized as a part of the multi-billion-dollar portfolios for wealthy institutions and billionaires should not be overlooked. Not only does it signify an ever-growing concentration of wealth at the top, but this especially holds tremendous relevance due to controlling a vital food source.
As early as 1980, concerns over the implications for American agriculture due to the investment of pension funds in farmland led to U.S. Senate hearings. Senator Gaylord Nelson worried about the escalating price of farmland, making it almost impossible to start farming.
He said, "We will then replace the system of dispersed ownership of farmland by those who till the soil and plan to hand it on to their children with ownership by investors, speculators, and institutions interested in maximizing their economic gain."
The U.S. Department of Agriculture granted funds to Madeleine Fairbairn for studying "farmland financialization."
Her research concluded that land allows institutional investors to diversify their risk while earning a respectable profit. However, to the small farmers, it's their very livelihood. The land is essential to farmers, indigenous peoples, and rural communities - it provides them with food security, pride, and cultural identity.
Although Bill Gates does not own 80% of the American farmland, the high ownership level raises concern. With time, as more and more investors regard farmland as a regular financial asset class, the price of farmland might fluctuate dramatically. We cannot allow these precious resources to become tools in an investment arsenal; used by wealthy institutions without a thought for those whose lives depend upon it.
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This summary of area news is curated by KPR news staffers, including J. Schafer, Laura Lorson, Tom Parkinson and Kaye McIntyre. Our headlines are generally posted by 10 am weekdays and updated throughout the day. These ad-free headlines are made possible by KPR members. Become one today. And follow KPR News on Twitter.