FarmPolicy

October 30, 2014

Majority Leader Cantor, Demcratic Whip Hoyer Briefly Note Farm Bill on House Floor Thursday

Categories: Farm Bill

Today on the House floor, Majority Leader Eric Cantor (R., Va.) and Democratic Whip Steny Hoyer (Md.) very briefly mentioned potential action on the Farm Bill.

Rep. Cantor noted: “As the Gentleman knows on the Farm Bill we are committed to trying to address the issue of the Farm Bill prior to leaving for the year.”

Sen. Boozman Talks Farm Bill, Estate Tax on Senate Floor Thursday

Categories: Farm Bill

Sen. John Boozman (R., Ark.), a member of the Agriculture Committee, highlighted the Farm Bill and estate tax issues on the Senate floor today, a video replay of his remarks can be viewed below.

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Farm Bill; Budget; and, the Ag Economy

Farm Bill Issues

David Rogers reported yesterday at Politico that, “With time running out, House and Senate farm bill leaders were still acres apart Wednesday night after an exchange of offers that only highlighted their competing visions of how to reshape commodity subsidies.

“‘It’s a quagmire,’ Minnesota Rep. Collin Peterson, the ranking Democrat on the House Agriculture Committee told POLITICO. ‘We should have been working on this for the last three months, but we didn’t.’”

Mr. Rogers explained that, “The Senate bets $29 billion on a new ‘shallow loss’ revenue insurance option that is especially popular with corn and soybean producers in the Midwest given their economic success. The House bill devotes about $9 billion to a similar revenue option but spends closer to $16 billion on more traditional price protection coverage to protect against collapsing markets.

“In the latest exchange, the Senate gives some ground, by opening the door for the first time to include rice, peanuts and wheat in a new countercyclical program that will add about $2.6 billion to the Senate baseline for these crops. Rice is the biggest player, with about $1.3 billion; followed by wheat, $950 million; and peanuts at $375 million, according to people familiar with the talks.”

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