Kentucky Agriculture Commissioner Jonathan Shell has joined forces with agricultural leaders across 10 states to denounce the Securities and Exchange Commission's (SEC) proposed "Natural Asset Companies" (NACs). These Wall Street-backed entities, they argue, would lock up vast swathes of public and private land, hindering Kentucky farmers and jeopardizing the state's agricultural heritage.
Rather than generating profits for shareholders, NACs would prioritize environmental conservation over traditional land uses like farming. This raises concerns about decreased agricultural production, impacting Kentucky's vital food supply chain and rural communities. Commissioner Shell emphasizes the unfair targeting of a critical economic sector and way of life in Kentucky.
Faced with a landslide of opposition from farmers and lawmakers, the Biden administration abruptly reversed its support for the NAC proposal. However, Commissioner Shell remains vigilant, stating, "This sudden reversal only underscores the administrations disconnect from the agricultural community."
"As a farmer myself," he continues, "I understand the immense contribution agriculture makes to our economy, families, and communities. I will continue to fight tooth and nail against policies like this that threaten our livelihood and way of life."
View the letter here.
Photo Credit: kentucky-agricultural-board
Categories: Kentucky, Government & Policy