Lowering Input Costs for American Farmers Act

1) On April 29, 2026, Rep. Miller-Meeks (R-IA) introduced HR8583, the Lowering Input Costs for American Farmers Act, which was referred to the House Committee on Ways and Means. The bill has one cosponsor (Rep. Hinson, R-IA) and an identical companion bill (S4418) in the Senate, referred to the Finance Committee. This is an early-stage bill with no further action yet. 2) The bill does not authorize or appropriate any federal funding. Instead, it removes existing trade barriers: it prohibits the imposition of duties under Trade Act sections 122 or 301 on phosphate fertilizers (HTS headings 3103 and 3105) imported from Morocco, and it revokes the countervailing duty orders issued in April 2021 against Moroccan and Russian phosphate fertilizers, effective 4 business days after enactment. It also requires U.S. Customs to refund cash deposits paid under those CVD orders within 90 days. The mechanism is regulatory relief, not spending. 3) Structural winners: U.S. farmers and agricultural cooperatives (e.g., CHS Inc., Land O'Lakes) benefit from lower phosphate fertilizer costs. The primary beneficiary is Morocco's state-owned OCP Group (not publicly traded in the U.S.), which gains tariff-free access to the U.S. market. Structural losers: Domestic phosphate producers — Mosaic ($MOS) is the most exposed, with its entire phosphate segment competing directly with OCP. Nutrien ($NTR) also has significant U.S. phosphate operations. CF Industries ($CF) has limited phosphate exposure but is still affected. The bill does not directly impact nitrogen or potash producers. 4) No real market data was provided for stock prices. The competitive landscape: Mosaic's phosphate segment generated approximately $4.5 billion in revenue in 2025 (estimated), with U.S. operations concentrated in Florida. Moroccan imports undercut Mosaic's cost structure due to OCP's lower mining costs and proximity to the Atlantic. The removal of CVDs (which were approximately 19-20% ad valorem on Moroccan phosphate) would significantly narrow Mosaic's pricing advantage. 5) Timeline: The bill is in early stages. It must pass the House Ways and Means Committee, then the full House, then the Senate Finance Committee and full Senate, then be signed by the President. Given the narrow Republican sponsorship and early stage, passage is uncertain. The companion bill in the Senate increases probability but does not guarantee passage. If enacted, the duty exemption takes effect 7 days after enactment, and CVD revocation takes effect 4 business days after enactment.