January 20, 2020

Farm Bill; and the Agricultural Economy

Farm Bill: Budget Issues

A Daily Radio News Service item from USDA yesterday (“Vilsack: Too Early to Predict Effects of Credit Downgrade”) indicated that, “The Agriculture Secretary says it’s premature to speculate on the effects of recent credit rating downgrades on farm loans and farm programs or on the upcoming farm bill debate.”

Nonetheless, the downgrade has raised pressure on the special 12-member, bipartisan, bicameral “super committee” that will have a substantial impact on phase two of the debt agreement that Congress and the Administration agreed to last week.

In remarks delivered yesterday, President Barack Obama stated that, “I realize that after what we just went through, there’s some skepticism that Republicans and Democrats on the so-called super committee, this joint committee that’s been set up, will be able to reach a compromise, but my hope is that Friday’s news will give us a renewed sense of urgencyI intend to present my own recommendations over the coming weeks on how we should proceed.  And that committee will have this administration’s full cooperation.  And I assure you, we will stay on it until we get the job done.”

And initial attention has turned to who may be appointed to serve on the 12-member committee.