November 20, 2019

Farm Bill; Political Notes; EPA Issues; Trade; and the Agricultural Economy

Farm Bill: Direct Payments

Reuters writer Charles Abbott reported yesterday that, “A direct payment subsidy that guarantees farmers $5 billion a year is the most prominent target in agriculture’s complex web of subsidies as budget-cutting Republicans flex their new legislative muscle in the House of Representatives.

Created in 1996, the subsidy is a point of dispute in farm country. Some farm groups want Congress to eliminate direct payments as part of an overhaul of farm policy due next year while others would keep it.

“The new Republican majority says it will unveil in coming weeks how it will cut spending by $60 billion this year. House Budget Committee chairman Paul Ryan says cuts of more than $100 billion would be made in 2012.”