US House of Representatives Passes Farm Bill while Crop Subsidies remain

US Speaker John Boehner

Speaker of  the United States House of Representatives , John Boehner

 

After more than two years of partisan squabbles over food and farm policy, the House passed and sent to the Senate an almost $100 billion-a-year, compromise farm bill containing a small cut in food stamps and preserving most crop subsidies.

White House spokesman Jay Carney said shortly after the vote that President Barack Obama would sign the bill if it reaches his desk.

The measure, which the House approved 251-166, had backing from the Republican leadership team. After wavering for several years, the GOP leaders were seeking to put the long-stalled bill behind them and build on the success of a bipartisan budget passed earlier this month. Leaders in both parties also were hoping to bolster rural candidates in this year’s midterm elections.

House Speaker John Boehner did not cast a vote on the bill, a commonplace practice for a speaker, he issued a statement saying it was “worthy of the House’s support.”

The legislation also would continue to heavily subsidize major crops for the nation’s farmers while eliminating some subsidies and shifting them toward more politically defensible insurance programs.

The bi- partisan bill will boost money for crop insurance, higher rice and peanut subsidies for Southern farmers; and renewal of federal land payments for Western states. The bill has created a more enabling environment that would agricultural production, food security, enhanced food reserves and also provide enough cheap and affordable food for all.

For those seeking reform of farm programs, the legislation would eliminate a $4.5 billion-a-year farm subsidy called direct payments, which are paid to farmers whether they farm or not. But the bill nonetheless would continue to heavily subsidize major crops — corn, soybeans, wheat, rice and cotton — while shifting many of those subsidies toward more politically defensible insurance programs. That means farmers would have to incur losses before they could get a pay-out.

The bill would save around $1.65 billion annually overall, according to the Congressional Budget Office. The amount was less than the $2.3 billion annual savings the agriculture committees originally projected for the bill.

Lessons for Nigeria are enormous………I will articulate this in another post shortly

Author Bio

belvyna

Mrs. Yemisi Akibu ( nee Awokoya) is the Chief Executive Officer of Belvyna Global, an agricultural consultancy service firm based in Lagos, Nigeria She is a former Team Member of the Agricultural Department of Union Bank of Nigeria Plc, one of Nigeria's first generation banks. She holds a B.Sc degree in Agricultural Economics from the University of Ibadan, Nigeria and a Masters degree in National Development and Project Planning from the University of Bradford, West Yorkshire, United Kingdom. She is passionate about the role agriculture plays in the social, economic, political development of a nation. She holds the view that one of the pillars of stability of a nation food security and this can only be achieved through the holistic development of the agricultural sector. She can be contacted via: yemisiakibu@gmail.com or info@belvynaglobal.com Remember, The Farmer Is King Enjoy my blog

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