Budget cuts target payment limits

Laws, Forrest
March 2005
Southeast Farm Press;3/2/2005, Vol. 32 Issue 7, p16
Trade Publication
The article reports that the U.S. administration has announced its budget proposal to cut agricultural spending by $587 million in fiscal 2006, in part, by capping farm program payments at $250,000 per farmer per year. Under U.S. President George W. Bush's proposal for agriculture, Congress will be asked to lower the payment limit cap for individuals to $250,000 for commodity payments, including all types of marketing loan gains, eliminating the three-entity rule, and basing marketing loans on historical production. The budget also proposes reducing direct payments to row crop farmers and dairy payments by 5 percent; requiring the dairy price-support program to minimize expenditures; and extending the Milk Income Loss Contract program for two years. It would also impose a sugar marketing assessment to be paid by sugar processors on all processed sugar.


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