Agreement met on farm bill

Agreement met on farm bill

[national summary]

House and Senate conferees have come to an agreement on new farm legislation. The $180 billion bill would establish a new subsidy program for grain and cotton farmers, and allow producers to update the planting records that are used to determine the size of payments. The legislation also establishes new subsidies for milk and crops such as lentils and peas. The bill would increase planned agriculture spending by $73.5 billion over the next 10 years, the limit allowed by last year’s congressional budget agreement. Existing programs are expected to cost about $107 billion during the same period. “This was a very, very contentious farm bill this year. Everybody, I think, got some of what they wanted, and that’s the art of compromise,” said Ann Veneman, Agriculture Secretary.

Copyright NFR Communications Inc May 15-May 31, 2002

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