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Policy Plate BLOG

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Six Reasons Why Fiscal Conservatives (and Every American) Should Hate the Farm Bill

Tuesday, June 11, 2013

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.

Table Scraps:

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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