"Farmers Facing Loss of Subsidy May Get New One"

Don't feel too sorry for the farmers losing one federal subsidy -- they may simply be gaining another.

"It seems a rare act of civic sacrifice: in the name of deficit reduction, lawmakers from both parties are calling for the end of a longstanding agricultural subsidy that puts about $5 billion a year in the pockets of their farmer constituents. Even major farm groups are accepting the move, saying that with farmers poised to reap bumper profits, they must do their part.

But in the same breath, the lawmakers and their farm lobby allies are seeking to send most of that money — under a new name — straight back to the same farmers, with most of the benefits going to large farms that grow commodity crops like corn, soybeans, wheat and cotton. In essence, lawmakers would replace one subsidy with a new one.  "

William Neuman reports for the New York Times October 17, 2011.

 

Source: NY Times, 10/19/2011