FarmPolicy

December 21, 2014

Farm Bill; Trade; Ag Economy; and Regulations

Farm Bill: President Obama’s Deficit Reduction Plan- General Overview

Zachary A. Goldfarb reported in today’s Washington Post that, “President Obama made a defiant call on Monday for $1.5 trillion in new taxes as part of a plan to find $3.2 trillion in budget savings over the next decade, issuing his most detailed proposal yet to tame the soaring federal debt.

“Abandoning earlier compromises, Obama adopted a posture that cedes far less ground in cutting the nation’s social safety net and demands much more in terms of new levies on millionaires, other wealthy Americans and some industries.

“The proposal drew an angry response from key Republicans, underscoring the considerable opposition to his plan on Capitol Hill as a special bipartisan committee on deficit reduction ramps up its work in coming weeks.”

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