Assistant Majority Leader Dick Durbin (D., Il.) addressed the Farm Bill on the Senate floor today.
From Sen. Durbin’s webpage: “Today on the Senate Floor, [Sen. Durbin] shared stories of two Illinoisans who rely on the Supplemental Nutrition Assistance Program (SNAP) that is protected in the Farm Bill which will be voted on by the Senate this afternoon. While commending the Conference Committee for preventing the most drastic cuts to the SNAP program, Durbin discussed his disappointment that the final bill did not include a Durbin-authored provision to reduce crop insurance subsidies for the wealthiest producers.”
“The 72-22 vote caps two years of struggle that badly split the old farm and food coalition. The final product represents a landmark rewrite of commodity programs, but even now, all eyes are returning to corn prices and three sets of numbers that will tell a lot about the topsy-turvy world facing the new law before spring plantings.”
Mr. Rogers explained that, “Indeed, never before has there been a farm bill with such a robust crop insurance program combined with a price-sensitive commodity title, all in a period of changing prices.
“The first data dump could come as early as Tuesday morning when the Congressional Budget Office will release its updated budget forecast, which many expect will show an increase in costs under the old policies of the 2008 farm bill.
“The second will follow quickly in early March, when crop insurance premiums will be set for Midwest corn states for the coming 2014 crop year. And third, CBO will come back weeks later with an updated baseline that will project the costs of the new farm bill once it has been signed into law by President Barack Obama.”