January 21, 2020

Farm Bill; Ag Economy; Biofuels; and, MF Global (CFTC)

Farm Bill–Policy Issues (Budget, Prop. 37), Political Notes

Ken Anderson reported yesterday at Brownfield that, “Iowa Senator Chuck Grassley believes the outcome of the Presidential election will determine whether the 2008 farm bill is extended or a new five-year farm bill is passed during the lame duck session.

“Grassley says if President Obama is re-elected, he thinks taxes and the fiscal cliff will be the main focus of the lame duck session.

“‘If Obama is re-elected and we have to deal with taxes and the fiscal cliff in November and December, I think it’s going to be pretty difficult to get more than a five-month extension of the farm bill,’ Grassley says. ‘If Romney would be elected and we put taxes and the fiscal cliff six months into next year, then there will be more time—and there might be time for a five-year farm bill.’”

Recall that a report over the weekend at The Hill Online indicated that, “…[T]he last best hope for the 2012 farm bill to pass will be if it is riding on fiscal cliff legislation…‘People on both sides of the aisle have made it clear to me that the only way it will be passed is as part of the fiscal cliff bill, if there is one,’ one lobbyist said.”