FarmPolicy

February 27, 2020

Agriculture Budget Proposed

Categories: Budget /Ethanol /Farm Bill

I. Bush Administration’s Budget Proposals
A. Background
B. Technical Detail
C. News Coverage
II. “The Price of Corn”

I. Bush Administration’s Budget Proposals
A. Background

David Rogers, writing in today’s Wall Street Journal, reported that, “Faced for the first time with a Democratic majority in Congress, President Bush put a little of everything in his 2008 budget: high spending, assumptions that the government will collect still-higher revenues, and the promise of a modest surplus in five years, even if his tax cuts remain intact.

“But no amount of optimism is expected to head off what is likely to be a continuing series of conflicts in coming months between the White House and lawmakers on priorities ranging from urban housing to farm subsidies and defense spending to investments in child health care and education.”

Mr. Rogers noted that, “Agriculture spending will be another source of conflict. As part of the farm-bill debate this year, the administration is seeking greater investments in renewable fuel, but farm-state lawmakers complain that the budget doesn’t provide adequate resources. Senate Agriculture Committee Chairman Tom Harkin (D., Iowa) said yesterday that while the administration’s farm plan has ‘solid suggestions,’ the budget figures ‘would deny the necessary funding to reach critical objectives in energy, conservation and rural-economic-development initiatives.’ The proposed budget also cuts $360 million in 2008 from two conservation programs that have been a priority for the chairman.”

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