Home Indiana Agriculture News CBO Scores Farm Bill Extension

CBO Scores Farm Bill Extension

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The Congressional Budget Office is estimating a 986-million dollar price tag for renewing and extending the 2008 Farm Bill for the rest of fiscal year 2013. The one-year extension includes nearly millions in disaster aid and would trim a projected 1.3-billion dollars from direct payments over 10 years. The measure also includes a version of the dairy insurance and dairy stabilization programs in the Senate and House Ag Committee farm bills. The new dairy programs have been criticized by the International Dairy Foods Association and House Speaker John Boehner. But the dairy programs are the reason House Agriculture Ranking Member Collin Peterson backs the extension. Peterson and Senate Ag Chair Debbie Stabenow say past dairy programs have provided inadequate financial protection to dairy farmers – adding that the insurance program coupled with the stabilization plan would create a strong safety net.

Source: NAFB News Service