SHAHEEN AMENDMENTS TO FARM BILL PROTECT TAXPAYERS AND CONSUMERS
Repeal of sugar supports and reform of crop insurance would reduce unnecessary subsidies
"As we look for ways to deal with our long-term deficits, and as families struggle with rising costs and flat incomes, we need to look at what policies have outgrown their usefulness," Shaheen said. "The farm bill contains provisions that are no longer helpful to the U.S. economy and should be reformed or eliminated."
The first amendment is Shaheen's Stop Unfair Giveaways and Restrictions (SUGAR) Act (S. 25), which would repeal the federal government's costly sugar support program. Current U.S. sugar policy price supports keep the cost of U.S. sugar artificially high, nearly twice the world price, which costs consumers and businesses an estimated
"For years, the sugar industry has been getting a sweet deal, and American consumers and businesses have had to pay for it," Shaheen said. "The sugar program should be eliminated to help small businesses in
Supporters of the measure include a wide variety of business groups that represent sugar-using industries, as well as Americans for Tax Reform,
Shaheen's second bipartisan reform amendment would cut crop insurance premium subsidies for large farms. Introduced with Senator Toomey, the amendment caps crop insurance subsidies at
"Cutting excessive insurance subsidies to large farms is a common-sense way to save taxpayers billions of dollars and help reduce the country's deficit," Shaheen said.
The federal crop insurance subsidy program was created in 1980 and expanded in 2000 to encourage farmers to purchase private crop insurance and avoid reliance on post-disaster federal support. To encourage wider use of crop insurance,
Premium subsidies to farmers are not currently subject to limits or means testing. In 2011, 26 farm businesses received more than
The amendment is supported by a diverse coalition including Americans for Tax Reform,
|Copyright:||(c) 2010 Federal Information & News Dispatch, Inc.|
|Source:||Federal Information & News Dispatch, Inc.|