Legislators face setback with farm bill budget estimate
Progress with passing the new farm bill is facing more obstacles after the Congressional Budget Office made an announcement on Aug. 2. The CBO released a report indicating that the proposed farm bill would raise the national deficit by almost $33 billion over 10 years. This information comes amid concerns about the delays in passing a new farm bill before the current legislation expires on Sept. 30.
Republications responded to the CBO’s budget report, saying it is inaccurate and does not consider savings that were written into the bill to lower the overall budget. Part of the frugality the Republicans were referring to included suspending Section 5 of the Commodity Credit Corporation Charter Act. Section 5 gives the Secretary of Agriculture the ability to spend CCC funds to support commodity prices, which affect agriculture markets.
“Unfortunately, the score relies on the same methodology that has led CBO to underestimate Commodity Credit Corporation outlays by more than $60 billion over the past seven fiscal years,” said House Ag Chairman Glenn Thompson, R-PA. “I will continue to work with the Budget Committee and CBO to bring about a clear-eyed, defensible interpretation of restricting Section 5 discretionary authority.”
At the moment, an extension of the current farm bill is expected and legislators will continue working out the logistics of the next bill and hopefully bring it to a vote soon.
Lacey Vilhauer can be reached at 620-227-1871 or [email protected].
