According to the article, "the House draft, released by the chamber's Agriculture Committee on Thursday, contains a new type of price-based farm subsidy included to appease rice and peanut growers." This House draft is very similar to counter-cyclical payments currently in existence. The government pays farmers if commodity prices fall below a target price set in law.
"Rice and peanut growers said they were hurt by the elimination of direct payments in the Senate bill and could not benefit from a new revenue-based crop insurance program that the Senate created," the article continued.
The USA Rice Federation also praised the “balanced” approach taken in the House, and said it is endorsing the bill. “The House Agriculture Committee’s Federal Agriculture Reform and Risk Management Act recognizes that a one-size-fits-all approach to farm policy is not workable for all producers and regions."
To read the full article, click here.
This article posted July 9, 2012.
