January 21, 2020

Budget and Farm Bill; Ag Economy; and Regulations

Budget Issues and the Farm Bill

McClatchy writer Halimah Abdullah reported earlier this week that, “The failure this month of Congress’ so-called supercommittee — the bipartisan panel of lawmakers that was supposed to cut at least $1.2 trillion from looming federal deficits — further complicates the Gang of Six’s efforts to pick up the pieces, [Sen. Saxby Chambliss, R-Ga.] said in an interview Tuesday with McClatchy. The group had hoped to rely on the supercommittee’s framework for cuts, but that committee’s members were unable to agree on the best way to reduce the nation’s debt.

The supercommittee’s failure means $1.2 trillion in automatic spending cuts will kick in January 2013. Half of those cuts will come from defense and the other half from domestic spending.

“‘Now that the debt commission has completely failed we’re in the process of taking our basic proposal… looking at what was done in the spring and during the debt ceiling vote and take out any duplications,’ Chambliss said, adding that he doesn’t have a definitive timeline for filing legislation.”