Agriculture Export Promotion Act of 2023

HR 648, the Agriculture Export Promotion Act of 2023, increases federal funding for key USDA export promotion programs to boost U.S. agricultural sales abroad. It raises annual funding for the Market Access Program from $200 million to $400 million and for the Foreign Market Development Cooperator Program from $34.5 million to $69 million, effective 2024-2029. These changes directly benefit U.S. farmers and agricultural businesses exporting commodities like soybeans, beef, and dairy by expanding their access to international markets. The bill aims to counter competitive disadvantages as foreign competitors grow their export programs faster than U.S. funding has kept pace. This represents a significant funding adjustment to address years of stagnant investment in these programs.