December 13, 2019

Farm Bill Dynamics, Biofuels – Food / Commodity Prices

Dan Morgan, writing in Sunday’s Washington Post, reported that, “President Bush’s decision in 2002 to sign a farm bill loaded with billions of dollars of new agricultural subsidies triggered considerable criticism from GOP conservatives true to the party’s anti-spending philosophy.”

(FarmPolicy Note: To listen to an audio excerpt of remarks Pres. Bush made when he singed the 2002 Farm Bill into law, just click here (MP3-1:00); the President’s complete remarks made at the signing of the ’02 law can be viewed here).

Mr. Morgan indicated that, “Now, as Congress nears final agreement on a new five-year farm bill that will cost nearly $300 billion, the president has taken a harder line. Emboldened by soaring food prices and record farm profits, he has pressed Congress to cut farm subsidies sharply and has made clear that he will veto the popular bill if lawmakers do not meet his demands.

“Congressional negotiators hope to take a final, compromise version of the legislation to the floors of the House and Senate this week, then send it to the White House.”