January 29, 2020

Farm Bill; Ag Economy; Budget; Biofuels; and, Biotech

Farm Bill

Erik Wasson reported yesterday at The Hill’s on the Money Blog that, “The House could be moving closer to resolving the impasse over dairy that has so far stymied passage of a five-year farm bill.

“House Agriculture Committee Chairman Frank Lucas (R-Okla.) said Wednesday that work is moving forward on a compromise dairy subsidy reform.”

Mr. Wasson explained that, “Lucas said the compromise does not have supply management but instead is seeking another disincentive to stop farmers from overproducing milk in response to the subsidy.

“‘You have to have disincentives to cause the market to make rational decisions. That’s not just dairy policy, that’s everything in life,’ he said. ‘This compromise has to provide a rational market signal without telling you how to turn the valve on your milk tank.’

“‘We’re moving forward until somebody tells us no,’ Lucas added.”