As expected, the House this morning passed a conference report on a new five-year farm bill that covers 2014-2018 crops and makes several changes to U.S. commodity programs and other provisions.
The Congressional Budget Office (CBO) estimates the programs of this bill will spend $956 billion over the next 10 years, which equates to $16.5 billion in savings versus the continuation of current programs.
The Senate has indicated it will pick up the measure during the current three-week work period.
For a breakdown of the key provisions of the new bill, see “Key Provisions in Farm Bill Conference Report” and “Farm Bill Vote at End Zone.”
