The US farm bill is an extensive and omnibus piece of legislation that is reauthorizedroughly every five years. The 2008 Farm Bill was scheduled to expire on September. 30, 2012. Despite thetremendous efforts to create a new farm bill legislation before the deadline, US congress could not makea new farm bill, but instead passed a one-year extension of 2008 Farm Bill that expires in September2013. So, it has been many efforts in US congress to make a new farm bill replacing 2008 farm law. Even-tually the Agricultural Act of 2014, also known as the 2014 US farm bill was enacted on Feburuary 7,2014 with the signiture of US President. New farm bill will govern US farm policies for the years of 2014-2018. The core provision of US farm bill is in price and income support programs for major commodi-ties. The new farm bill shows the US government’s willingness to make a strong farm income safty-net inmany ways. In particular, the new farm bill newly introduce shallow loss policy to enhance the farmincome safety. US farmers’ income is likely to be secured and stabilized through the strengthenedincome-safety net programs which is expanded in the new farm bill.

• 임정빈(서울대학교 농경제사회학부, 농업생명과학연구원) | Jeong-Bin Im Corresponding author