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Senator Chuck Grassley said during a teleconference Tuesday that the farm bill’s future is still up in the air, but pointed out that there are few in the Senate who support a one-year extension in place of a five-year bill.
Speaker of the House John Boehner assured House Ag Committee Chair Frank Lucas that the farm bill is still part of the year-end Republican strategy. Lucas says Boehner gave him the impression that it was one of the issues to be addressed, along with sequestration and taxes. Clearly, Lucas says, the $35 billion of savings in the House package has gotten someone?s attention. Some way, somehow, says Senate Ag Ranking Member Pat Roberts, a five-year farm bill has to get passed; farmers, ranchers and lenders are currently in financial purgatory. Meanwhile House Ag Ranking Member Collin Peterson says he is absolutely, 110% against a one-year extension and will do everything in his power to stop it.
On the fiscal cliff front, the National Farmers Union is urging Congress to take action on tax reform as well as spending reductions. Much recent discussion has concerned impending cuts that could happen during sequestration; NFU President Roger Johnson says that’s just half the issue, and that the best way to deal with the deficit is to raise revenues sensibly and to reduce expenditures. NFU believes Congress must also buffer middle class families and individuals from paying higher taxes because of the Alternative Minimum Tax. Another bullet point on NFU?s priority list is for the estate tax to remain effective and fair. Johnson says that’s because it’s an important part of the nation’s federal tax code. He adds that NFU looks forward to working with Congress and President Obama to make sure a workable compromise can be reached.
