Tobacco buyout numbers tabulated

Yancy Jr., Cecil H.
November 2004
Southeast Farm Press;11/3/2004, Vol. 31 Issue 25, p24
Trade Publication
This article reports that several issues related to tobacco buyout have been settled in the U.S. Congress sent a $10.1 billion tobacco buyout bill to the president on October 11, 2004 who signed it into law on October 22, 2004. The buyout will amount to $9.6 billion for quota holders and growers. Since the buyout is funded by tobacco product manufacturers, Phase II payments will cease after enactment of the buyout. Assuming this year's Phase II payment is made, there would be a total of about $2.6 billion in the six remaining scheduled payments.


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