Posted by farmallsandcoops on July 20, 2012 at 10:56:43 from (69.57.203.41):
In Reply to: Re: New Farm Bill posted by BDT in Minnesota on July 20, 2012 at 07:55:03:
BOTH versions of the farm bill end direct payments. But..... they replace them with "risk" coverage that is funded by the gov't. So the "savings" from eliminating direct payments are less.
The Senate version is loved by corn and soybean farmers because they would get the most benefits. The House version gives a choice between price and revenue loss coverage with the use of target prices and southerners prefer this approach.
Nutrition programs account for some 75%-80% of the "farm" bill. Dems are howling at cutting $16 billion from nutrition programs (House version) over 10 years (10-year spending on nutrition is around $750 bil. to $800 billion) while the Senate would cut it $4 billion over 10 years.
Commodity programs -- the payments to farmers -- would be cut by $23 billion in the House and $19 billion in the Senate over 10 years.
What about disaster help? Some of those calling for a restart of the SURE program (disaster program from 2008 farm bill) are the same ones that ended that and livestock assistance programs at the end of Sept. 30, 2011 so they could save money. Guess what? Now they want it reinstated for 2012! And, livestock disaster help would restart with the new bill, but not for crops. Reason: $$ it costs.
If the House passes the bill before the August break, they still need to work out differences with the Senate and that will take a while. And do you think they want to vote on an overall bill before Nov. 5???
And for those who say we MUST pass it by Sept. 30 (when current bill authority ends), nope! It's called an extension. The 2002 Farm Bill was extended several times before the 2008 Farm Bill (which started as the 2007 farm bill fyi) was finally passed.
As for crop insurance, yes there is a 60%+ subsidy on premiums. That started via legislation passed in 2000. The concept was to get people into crop insurance and it achieved that goal.
Sorry such a long post but thought some facts might be good to lob in here.
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