FarmPolicy

November 1, 2014

Senate Farm Bill: Budget & Procedural Issues in Focus –While WTO Concerns Loom

Dan Morgan reported in this morning’s Washington Post that, “Thanks to the application of a little last-minute budgetary magic, the farm bill before the Senate this week authorizes about $10 billion in new subsidies, price guarantees and disaster aid in the next decade, even as farmers report near-record profits.

“There is a new $5.1 billion ‘disaster trust fund,’ as well as a revenue insurance program that would increase taxpayer costs by $4.7 billion over 10 years, according to the Congressional Budget Office. Spread through the huge bill are gains for producers of wheat, milk, sugar, peanuts, barley, oats and honey, and a new $1 million-a-year subsidy earmarked for camelina, a seed used to make biofuels.”

“Few predicted that outcome a few months ago,” the article said.

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