January 21, 2020

Budget and the Farm Bill; Ag Economy; Trade; Biofuels; and Regulations

Budget Issues and the Farm Bill

DTN Political Correspondent Jerry Hagstrom reported yesterday that, “House Agriculture Committee ranking member Collin Peterson wants Congress to consider adding the farm bill, which was prepared for the failed supercommittee on deficit reduction, to a bill to pay for an extension of payroll tax relief and unemployment insurance and to prevent doctors who take Medicare patients from seeing a cut in their payments.

“In a speech Tuesday, Peterson, D-Minn., said the deal would allow use of the $23 billion in agricultural cuts over 10 years to offset the payroll and unemployment costs. In return, lawmakers would pass the new farm bill and not make the agriculture budget subject to the across-the-board cuts that are supposed to go into effect in 2013 because the supercommittee was unable to reach agreement.

It’s unclear whether Peterson’s proposal is realistic.”