This blog doesn’t pretend to be a policy analysis blog but the Farm Bill negotiations and status are important to its audience. But this much we do know: the conference committee announced a deal for a new five-year Farm Bill and the House of Representatives will vote on Wednesday. As of this writing, it is not clear when the Senate will vote. The following links, in no particular order, delve into the proposed new Farm Bill:
- Per DTN, the bill eliminates direct payments and the average crop revenue election program. Additionally, “farmers will make a one-time decision to enroll in a revenue program known as Agriculture Risk Coverage (ARC) or a target price program called Price Loss Coverage (PLC).” More information is at the link about the ARC and PLC programs.
- The New York Times also has a write-up concerning the legislation. The Times indicates the bill will provide for a new milk insurance subsidy program and place a cap on farm subsidy payments. The Times also reports that some savings from eliminating direct payments will go towards crop insurance.
- If you want a comprehensive run-down, FarmPolicy.com is your go-to source.
- This Reuters article looks at the numbers — total cost, total savings, number of individuals employed in agriculture.
- The American Soybean Association supports the bill as does the American Farm Bureau.