Conferees Approve Crop Insurance, Farm Relief
May 25, 2000
House and Senate negotiators reached agreement Wednesday on a multi-billion-dollar farm assistance package that began as a crop insurance expansion bill and was augmented with farm income payments that will mark the third straight year of "emergency" measures.
As expanded by the conference committee, the measure includes –
$7.1 billion in emergency farm income aid, of which $5.5 billion will be paid during the current fiscal year in the form of additional "freedom to farm" payments, and $1.6 billion will be paid after September 30 to soybean, livestock and other commodity producers.
$8.2 billion over five years in additional expenditures for federal crop insurance, including additional premium subsidies to make coverage more affordable and an adjustment in the way farmers’ insured yields are calculated to help producers with multi-year losses.
The Senate leadership hopes for a vote Thursday on the conference report. A House vote is also expected this week before Congress leaves town for the Memorial Day recess. Passage is expected, although Democrats have been critical of the way the emergency money is being spent – using the structure of the "freedom to farm" law, which many Democrats oppose.
Meanwhile, the schedule for the regular agriculture appropriations bills remained uncertain at best. Both House and Senate sources said there is a good chance the bills will have to wait until after the coming Congressional recess. House consideration this week seemed marginally more likely than Senate action.