Six Reasons Why Fiscal Conservatives (and Every American) Should Hate the Farm Bill
The budget-busting farm bill headed to the House floor next week is bad news for taxpayers. Here’s why this bill, officially H.R. 1947, shouldn’t pass.
This bill would:
- Send crop insurance subsidies soaring to nearly $100 billion over the next decade.
- Fail to limit insurance subsidies so the largest farm businesses would continue to collect the lion's share.
- Increases price guarantees so close to market prices that even a small decline in crop prices would trigger billions of dollars in government spending.
- Extend direct payments for cotton farmers for two more years at a cost of nearly $1 billion.
- Conceal the names of subsidy recipients, among them, members of Congress.
- Weaken the long-standing conservation compact.
Read the full Ag Mag post here.
Marketplace Morning Report explains an important reform to the Senate-passed farm bill that will subject crop insurance subsidies to means-testing.
The Maine House of Representatives approved a GMO labeling bill. It now moves to the Senate.
Tweet of the Day:
@nprnews How The Senate Farm Bill Would Change Subsidies http://n.pr/18r3emV
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