February 27, 2020

Farm Bill; Ag Economy; and Trade

Farm Bill: Policy Issues

Reuters writer Charles Abbott reported yesterday that, “U.S. farm subsidy cuts of $23 billion would be tied to the creation of a new crop subsidy system under a plan being discussed by Agriculture Committee leaders in Congress, farm lobbyists said on Thursday.

“The proposal would end the $5 billion-a-year direct payment subsidy. It would endorse a revenue-assistance program to shield growers from ‘shallow losses’ from poor yields or low market prices as the new basis for the U.S. farm program.

“Leaders of the House and Senate agriculture committees aimed to outline the plan in a letter on Friday to the congressional ‘super committee’. That 12-member panel is charged with finding $1.2 trillion in government-wide cuts.”