The new federal farm bill is the focus of "Law Review", this week.
Doug, of Kingsley, Iowa asked, "What should farmers know about the new farm bill?" Jeana Goosmann, with the Goosmann Law Firm says the bill includes several reforms to the last farm bill. "Over 10-years, the farm bill spends $956-million," Goosmann said. The money will pay for the federal food stamp program. It also includes money for crop insurance, conservation and commodity programs.
The list of commodity programs, which is funded by the federal farm bill, is a long one. "It includes trade subsidies, programs for research and extension, energy and specialty crops," Goosmann said.
Seventy-nine percent of the funding in the federal farm bill pays for food stamps and nutrition. "The remainder funds crop insurance programs, conservation programs, and commodity programs," Goosmann said.
The bill includes some sweeping changes that farmers need to be aware of. "There's more money for crop insurance, but less money for direct payments to farmers," Goosmann said. "There's $14-billion less for large sudden changes in crop prices." Overall, the federal farm bill cuts the number of programs, and spending, by $4-billion.
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