The Senate passed and sent President Barack Obama a measure that sets U.S. agricultural policy for five years, ending the toughest legislative battle on renewal of the farm bill in almost two decades with cuts to crop subsidies and food stamps.
Crop insurers successfully lobbied to keep several proposals out of the farm bill set to pass the U.S. Congress today -- such as a requirement that would have forced farmer-lawmakers to disclose benefits they receive.
The U.S. House passed and sent the Senate a much-delayed bill to set agricultural policy for five years, as rural Republicans and urban Democrats overcame objections about farm subsidies and food-stamp cuts.
The U.S. Department of Agriculture is preparing to implement an agriculture law not yet passed in Congress and isn’t planning to adjust for rules that may double milk prices in the absence of a law, Secretary Tom Vilsack said.
An extension of U.S. agriculture subsidies to late January was rebuffed yesterday by Senate Democrats, who said they won’t pass any House plan for temporary funding before Congress breaks for the holidays.
Negotiators are seeking to salvage the credibility of the World Trade Organization at a meeting in Bali this week, as the lack of agreement over farm subsidies threatens to end 12 years of talks on a global trade pact.