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Opinion July 7, 2026

Economist Steve Forbes Criticizes Senator Schumer's Beef with Beef Industry, Highlights Lack of Understanding on Key Issues

Economist Steve Forbes Criticizes Senator Schumer's Beef with Beef Industry, Highlights Lack of Understanding on Key Issues

Senate Minority Leader Chuck Schumer has proposed a bill aimed at addressing high beef prices, but critics argue that his plan would make things worse. Despite not having any experience in the cattle industry, Schumer wants to intervene in the US beef market, raising concerns about the potential consequences.

The Family Grocer and Farmer Relief Act, as proposed by Schumer, is a classic example of Washington's liberal approach to problem-solving. It misdiagnoses the cause of high beef prices and prescribes a cure that would only exacerbate the issue. Beef prices have risen due to a combination of strong demand and tight supply, which Schumer's bill fails to address.

According to the US Department of Agriculture, the total US cattle and calves inventory has dropped to its lowest level in 75 years. The 2025 calf crop was a record-low 32.9 million head, the second consecutive year a new record low was set. This decline is not due to price gouging, but rather basic economics – supply and demand.

The cattle industry is not immune to the challenges faced by other sectors, including drought, soaring feed, energy, land, labor, and regulatory costs. Inflationary policies, backed by Schumer and his allies, have made it more expensive for farmers, processors, and consumers alike. Now, Schumer wants to punish the very supply chain families depend on.

Cattle are not widgets, and Congress cannot pass a bill to produce more beef. The process of raising beef cattle takes years, depending on factors such as weather, feed, financing, land, labor, trade policy, and government regulations. Schumer's bill ignores these facts and the damage done by years of anti-business policies imposed by the same politicians.

The proposed bill would break up companies, leading to duplicated infrastructure, higher financing costs, stalled investment, litigation, and uncertainty across the supply chain. This would result in fewer efficiencies, less capacity, more risk, and higher prices at the meat counter. Working families buying ground beef for everyday meals would be the ones to suffer.

There is a better way to address high beef prices. Washington should reduce the cost pressures that made beef more expensive in the first place. By easing unnecessary regulatory burdens, lowering energy and transportation costs, keeping import and export markets open, and reducing tariff and input-cost pressures, the beef industry can recover.

Let markets work, and let us not forget who is pushing this scheme. The same politicians who have spent years demonizing beef and lecturing Americans about what they eat are now pretending to be champions of consumers. As America marks 250 years of independence, we should remember what made this country prosperous – private enterprise, property rights, limited government, and free markets.

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