The House Budget Committee has proposed a $6.753 billion budget cut with $55 million in spending reductions for agriculture in Fiscal Years 2007 through 2011. The bulk of the agriculture savings ($51 million) are primarily through a reduction to the Export Credit Guarantee Program.
By lifting the 1% fee cap, savings are proposed to be $6 million in the first year and $51 million over 5 years. The remaining $4 million in savings is expected to come through the reduction of food stamp fraud.
The proposal would allow state food stamp agencies the authority to match information provided by applicants with the National Directory of New Hires. This would serve as a further check to verify the truthfulness of income self-reported by food stamp beneficiaries. The policy has no savings in the first year and $4 million in savings over 5 years.
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