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Farm Law Fails as U.S. House Rebellion Upends Subsidy Overhaul

June 20, 2013
 
 

Farm bill's defeat in the House throws food and farm programs into limbo.

A $939 billion agriculture bill opposed by Republicans against crop subsidies and Democrats fighting cuts to the food-stamp program failed in the U.S. House of Representatives, throwing food and farm programs into limbo.

The 195-234 vote came less than two weeks after the Senate passed a $955 billion version 66-27. Without a new law, current programs begin to expire on Sept. 30, potentially doubling milk prices next year.

The farm bill, which benefits crop-buyers such as Archer- Daniels-Midland Co., grocers including Supervalu Inc. and insurers including Wells Fargo & Co. and Ace Ltd, has been working through Congress for almost two years. The current authorization of U.S. Department of Agriculture programs, passed in 2008, was extended last year after the Senate approved a plan and the House declined to consider one of its own.

The Senate bill is S. 954. The House bill is H.R. 1947. 

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RELATED TOPICS: Dairy, Policy

 

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