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This afternoon President George Bush said he was "deeply disappointed" in the farm bill conference report filed today, adding that if the bill makes it to his desk he will veto it. Bush called on Congress to extend the farm bill by one year because it is a "far superior option than supporting a bill that increases farm subsidy rates, spends too much and fails to reform farm programs for the future," he said.
"Today's farm economy is very strong and that is something to celebrate. It is also an appropriate time to better target subsidies and put forth real reform. Farm income is expected to exceed the 10-year average by 50% this year, yet Congress' bill asks American taxpayers to subsidize the incomes of married farmers who earn $1.5 million per year. I believe doing so at a time of record farm income is irresponsible and jeopardizes America's support for necessary farm programs," a statement from Bush said.
He outlined that instead of the $10 billion above baseline agreed upon, the real cost is nearly $20 billion once actual government spending that will occur if this bill becomes law is included. Congress pushed commodity payments outside the budget window which Bush categorized as a "budget gimmick."
"My Administration clearly identified numerous reforms as essential to justify even a $10 billion increase in spending, yet this bill includes none of those reforms in full," Bush said.
The proposed bill does not halt the practice of collecting subsidies even when crops are sold later at a higher prices; raises payment rates for most crops and creates new subsidies which can be triggered even at very high prices; restricts the ability to redirect food aid dollars for emergency use in the midst of a global food crisis and falls short of the Administration's conservation proposals. It also increases the sugar program, nearly doubling the price paid to domestic producers.
"By increasing trade-distorting subsidies, the bill undermines our ability to open foreign markets to American agricultural goods," Bush said.
Policy is one of the most important issues facing farmers today, but often the most difficult to digest. Jacqui Fatka has a passion to decode the often difficult world of agricultural policy into terms understandable for today's ag players.
Fatka joined the Farm Progress team as E-Content Editor in August 2003 after graduating from Iowa State University. Prior to full-time employment with Farm Progress, she interned at Wallaces Farmer magazine, Iowa Sen. Chuck Grassley's press office and the Iowa Pork Producers Association and freelanced for National Hog Farmer. She also worked as a public relations consultant with Iowa Industries for the Future, an effort to bring together major players in the biorenewables industry.
Currently Fatka is a staff editor at a sister publication, Feedstuffs. For Farm Futures she regularly tells the story of ongoing agricultural policy changes. Her byline can also be found on management profiles.
Fatka grew up on a grain and livestock farm near Atlantic, Iowa. She currently lives in central Ohio with her husband Eric.
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