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Proposed Budget Would Increase Ag Research

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President Obama will roll out his 2017 budget proposal this week which will include an increase in federal spending for agricultural research and development. The Budget proposal doubles the research spending from about $350 million to $700 million as required under the 2008 Farm Bill and reauthorized in the 2014 Farm Bill, according to DTN. Secretary of Agriculture Tom Vilsack said he believes Congress will support fully funding USDA’s Agriculture and Food Research Initative, adding he is “hopeful that people will see the benefits of innovation in agriculture.” Obama’s budget proposal also includes a $10 per barrel tax on crude oil that meets heavy Republican opposition. The new tax would fund infrastructure improvements, according to the White House. However, Republican leaders in the House and Senate call the budget proposal “dead on arrival.” Both the Senate and House Budget committees have decided they will not hold hearings on the final budget under Obama’s tenure as President.