Obama proposes ending $5 billion farm subsidy

 Resize text         Printer-friendly version of this article Printer-friendly version of this article

Reuters reports President Barack Obama wants to end direct payments and other farm subsidies to save the White House billions of dollars over the next decade.

Cutting direct payments alone would decrease current farm supports by half, if not more. Reforming agricultural subsidies usually occur when writing the new farm bill but the congressional push to decrease the overall budget has moved discussions ahead of schedule.

The idea to cut direct payments has surfaced as grain prices are at record high levels. The White House says half of farms receiving payments have yearly incomes above $100,000. Crop insurance reforms to save $8.3 billion and a $2 billion cut in stewardship programs are also in consideration. The White House may also renew a disaster program set to expire on Oct. 1.

For more information click here.

Source: Reuters



Comments (2) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left

Kerry Powell    
Idaho  |  September, 21, 2011 at 10:44 AM

"President Barack Obama wants to end direct payments and other farm subsidies to save the White House billions of dollars..." I didn't know the money belonged to the White House! The writer needs to rethink that first sentence or I need to change my understanding of whose money that is.

Teresa    
sw wisconsin  |  September, 23, 2011 at 01:07 PM

Lets end the CRP program it would save millions and we need that crop land not investors buying and taxpayers paying for it


Ag-Bag LX1214 Professional

Setting the highest standard in silage bagging capacity, the industry’s largest Ag-Bag LX1214 Professional Silage Bagger is available with an ... Read More

View all Products in this segment

View All Buyers Guides