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FIRST ON FOX: Two Midwestern senators from both sides of the aisle are teaming up to crack down on China and foreign countries that are buying up American farmland. The lawmakers have brought forth new legislation that aims to give citizens and Congress a “clearer picture of who owns America’s heartland.”
On Wednesday, Sens. Tammy Baldwin, D-Wis., and Chuck Grassley, R-Iowa, introduced bipartisan legislation that calls for additional “transparency and oversight” of foreign ownership in America’s agricultural industry.
The Farmland Security Act of 2023 aims to “support transparency, collect complete and accurate data on foreign ownership, and better understand the scale and impact of foreign ownership.” The legislation will ensure all foreign investors who purchase American agricultural land will report their holdings, including “shell companies.” The legislation will thus strengthen penalties for those who evade filing.
“Our agricultural economy is the beating heart of Wisconsin’s rural communities. But when foreign investors own farmland and agricultural processing capacity, it can put our national security, domestic food supply, and local communities at risk,” Baldwin said in a statement.
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“The Farmland Security Act of 2023 will give the American public and Congress a clearer picture of who owns America’s heartland, while also investing in critical research to better understand how foreign ownership is impacting our rural communities, family farms, and national security.”
Sens. Tammy Baldwin, D-Wis., and Chuck Grassley, R-Iowa, introduced bipartisan legislation that calls for additional “transparency and oversight” of foreign ownership in America’s agricultural industry. (Jemal Countess / Getty Images for JDRF / File | Anna Moneymaker / Getty Images / File)
Proposals in the bill include: imposing new financial penalties on foreign owners or “shell companies” who do not report or…
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