Rep. Glenn “G.T.” Thompson (R-PA-15), who serves as Chairman of the House Ag Committee, has released a more detailed, title-by-title summary of his Farm Bill proposal.
The summary includes many key provisions like increasing the statutory reference prices by 10-to-20 percent for all covered commodities in Title 1.
His proposal increases the Agricultural Risk Coverage guarantee to 90 percent of the benchmark revenue and expands the maximum payment band to 12.5 percent for both ARC-IC and ARC-CO. It also increases marketing loan rates for most commodities.
A full draft of the House version of the Farm Bill could come next week with markup scheduled for Thursday, May 23.
Source: NAFB News Service