The agriculture industry can withstand cuts to farm subsidies proposed by President Obama as part of his budget, says Secretary of Agriculture Tom Vilsack. Obama's 2012 budget proposal "revives a proposal to tighten income eligibility for farm subsidies and to slash the amount that large farms and landowners can collect," Philip Brasher of the Des Moines Register reports. "Congress has rejected similar proposals at the behest of farm groups, but Vilsack said the cuts are imperative to help address the deficit."
"We continue to maintain a strong safety net for people who are most in need of that safety net," Vilsack said of the budget. The U.S. Department of Agriculture on Monday estimated net farm income would reach $95 billion in 2011, a 20 percent increase from last year. "If the forecast is right, 2011 will be the second best year for farm income in the past 35 years when adjusted for inflation," Brasher writes.
In Obama's proposal, direct payments to farms would be capped at $30,000 per person per year, down from $40,000. His overall plan sets up "a battle between the White House and legislators from agricultural states," P.J. Huffstutter of the Los Angeles Times writes. "It will also test the political will of some Republican and 'tea party' lawmakers from rural districts who have vowed to trim federal spending." (Read more)
"We continue to maintain a strong safety net for people who are most in need of that safety net," Vilsack said of the budget. The U.S. Department of Agriculture on Monday estimated net farm income would reach $95 billion in 2011, a 20 percent increase from last year. "If the forecast is right, 2011 will be the second best year for farm income in the past 35 years when adjusted for inflation," Brasher writes.
In Obama's proposal, direct payments to farms would be capped at $30,000 per person per year, down from $40,000. His overall plan sets up "a battle between the White House and legislators from agricultural states," P.J. Huffstutter of the Los Angeles Times writes. "It will also test the political will of some Republican and 'tea party' lawmakers from rural districts who have vowed to trim federal spending." (Read more)
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