FarmPolicy

July 29, 2014

Budget and Farm Bill; Trade; Agricultural Economy; and MF Global

Budget and Farm Bill Issues

Rosalind S. Helderman reported in today’s Washington Post that, “Negotiations over how to extend a payroll tax holiday for 160 million Americans and avoid a government shutdown this weekend ground to a halt Wednesday after a standoff in the Senate over how to proceed.

“Amid the gridlock, Cabinet secretaries for the first time formally alerted affected federal workers Wednesday to the possibility of a shutdown — indicating in an ­e-mail that they would determine later which staffers are ‘essential’ to maintain operations in the event of a funding disruption.

“If there was any sign of progress, it was that Senate Democratic leaders met with President Obama on Wednesday at the White House to weigh whether to drop their demand that the $120 billion payroll tax cut be paid for with a new surtax on millionaires. Republicans have rejected the idea, but it was not clear Wednesday whether that concession from Democrats would be enough to produce a deal.”

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