Tobacco buyout negotiations intense during last month

Yancy, Cecil
September 2004
Southeast Farm Press;9/15/2004, Vol. 31 Issue 22, p4
Trade Publication
The article reports on a proposed tobacco buyout bill, to be presented before the U.S. Congress. Intense negotiations about the bill took place in August 2004. The Congress returned on September 7, 2004 to tackle two substantially different bills that contain a tobacco buyout. The Senate version of the tobacco buyout is $8 and $4 on 2002, paid out over 10 years. It includes limits on post-buyout production and is paid for through user fees from companies. The House version is $7 and $3 and paid out over five years. It has no post-buyout program or restrictions and is paid for through general revenues. The Senate bill has a $12 billion price, while the House version has a $9.6 billion price tag.


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