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It looks like three years worth of Congressional back and forth is finally over. The Senate
passed the $1 trillion, five-year farm bill Tuesday, sending the bill to President Obama's
desk for his signature.
It doesn't always make for the most exciting politics, but the farm bill helps farmers
and companies make long-term plans without worrying about a sudden rule change. And its
affects can be felt all the way down to your local grocery store. (Via C-SPAN)
"People don't really realize how many issues that the farm bill pertains to. It also has
food stamps, it has things dealing with food labeling, it has things dealing with whether
dairy subsidies move forward. The price of milk can go higher or lower." (Via MSNBC)
The bill will end the decades-long practice of giving direct subsidies to farmers, instead
creating a government-backed crop insurance program. The program would cut risk for farmers,
but the government will be on the hook if crop prices fall. (Via U.S. Bureau of Reclamation)
And then there's the SNAP food stamp program, which is being trimmed by $8.6 billion over
the next decade. Legislators say that was done by reducing waste and fraud, not by kicking
people off the program. (Via U.S. Department of Agriculture)
The Congressional Budget Office estimated the bill would reduce spending by more than
$16 billion over the next decade, though lawmakers are touting a somewhat higher number, around
$23 billion in savings.
Once signed by the president, Agriculture Secretary Tom Vilsack will start working to
implement the new laws before spring planting season, which in some parts of the country
is just weeks away.