Tuesday, October 18, 2011

Just in from Washington

Ag Committees Miss Deadline to Submit Cuts

Washington--The House and Senate Agriculture committees missed the Friday deadline to report ideas for savings from agriculture to the Joint Select Committee on Deficit Reduction.

Although their suggestions have yet to be submitted, the chairmen and ranking members of the House and Senate Agriculture committees have reportedly reached an agreement to suggest a 10-year savings target of $23 billion in agriculture programs to the Joint Committee, which must recommend a $1.2 trillion deficit reduction package before Thanksgiving.

The details of the $23 billion target are not yet public, but it is widely believed to include total elimination of direct payments and target prices, a new revenue program that would provide shallow loss assistance, no reductions in the crop insurance program and small cuts to nutrition programs.

Newsline (AFBF’s farm bill recommendations)

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