Farm Bill Finalized: We’re Saving Taxpayer Dollars Through Free-Market Reforms

We’re nearing the finish line on the Farm Bill, which is good news for consumers and producers. The Conference Committee report was just finalized. We’re hoping to bring it to the House floor for a vote on Wednesday. This has been a long process that began two years ago with detailed examinations of every single farm program. We’ve held dozens of hearings and we’ve gone through a few different versions of this bill. We’ve worked to reform farm programs to make them more market-based, and to bring accountability and transparency to nutrition programs.

I’ll be honest with you—this bill isn’t perfect. I’m disappointed that we weren’t able to close more loopholes on nutrition assistance so that you could be sure your taxes were only supporting families in need. I had hoped we’d get the government out of the business of marketing products by ending the trade-distorting Country of Origin Labeling (COOL) program. But we’ll continue to work on these issues in appropriations legislation.

All told, this is a good bill that saves taxpayer dollars through free-market reforms. The Farm Bill will reduce our deficit by $24 billion over ten years. We’ve closed loopholes in the nutrition programs to save $8 billion. We’re also implementing a pilot program that will help get able-bodied adults off food stamps and back to work. Instead of sending out direct payments, which aren’t tied to a farmer’s current production, the conference committee strengthened crop insurance, which requires farmers to pay a premium and only pays out in the event of a loss. I’m also proud that my market-based Shallow Loss Coverage Option (SCO) was included in the final report. This group insurance program helps farmers manage smaller losses—bad seasons that wouldn’t necessarily trigger an individual crop insurance policy, but over time could put a farmer out of business.

These are all very positive reforms, and if we want to see them implemented, we need to pass this through the House and Senate. I’m encouraging my colleagues to vote for this bill, which will give our farmers and ranchers certainty while they work to feed and clothe America.

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