Tuesday, June 18, 2013

Sushi Aid in $1 Trillion U.S. Farm Bill Irks Watchdogs

Tucked deep in the 1,198-page U.S. House agriculture policy legislation is an initiative to guarantee prices for sushi rice. So too is insurance for alfalfa and a marketing plan for Christmas trees. Catfish farmers also get a morsel in the proposal being taken up this week: profit-margin insurance. The products represent a tiny fraction of the $440 billion U.S. farm economy. Yet each is slated to receive special treatment -- either through subsidized insurance, promotional programs or protections against imports -- in the bill that carries an estimated 10-year price tag of $939 billion. Both the Senate and House versions would reduce payments to growers of corn, wheat and other crops by eliminating a $5 billion-a-year program of direct subsidies while expanding subsidized crop insurance. Their different price tags mainly result from variations in food-stamp spending. The Senate plan would reduce payments by $4 billion over a decade, about one-fifth the House amount...more

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