House and Senate budget negotiators have agreed to provide an additional $79 billion in funding over the next 11 years.

Larry Combest, (R-Texas) House Agriculture Committee Chairman, says the additional money will provide sufficient funding to address income shortfalls for producers’ 2001 crop year, as well as provide the additional resources needed to rewrite current farm policy to create a stronger and more predictable farm policy.

The budget deal commits an additional $5.5 billion for fiscal year 2001 and the remaining $73.5 billion will be allocated out over fiscal years 2002 through 2011.

House Agriculture Committee press release