January 25, 2020

Farm Bill; Regulations; Ag Economy; Energy-Biofuels-Biotech; and Trade

Farm Bill: Background- Budget and Spending Issues

Janet Hook and Corey Boles reported in today’s Wall Street Journal that, “House Republican leaders on Thursday proposed cutting more than $30 billion from government spending for the remaining eight months of the fiscal year. Their approach could mean big reductions for virtually all federal agencies other than the Pentagon.

“The GOP plan calls for a 9% reduction in nondefense, discretionary spending, a cut of $43 billion compared with 2010 levels. Defense spending would see a boost of 1%, or $8 billion.

“That is a direct challenge to President Barack Obama’s argument against deep and immediate spending cuts, which Democrats believe would harm the fledgling economic recovery. Republicans say the greater risk is in failing to move quickly to rein in the federal deficit.”