2018 Farm Bill: The Numbers Farmers Should Care About

December 12, 2018 11:29 AM
 
The Congressional Budget Office (CBO) scores the $867 billion farm bill as budget neutral.

On Tuesday, the Senate passed the Agriculture Improvement Act of 2018 (farm bill). The bill made its way through the House on Wednesday, and is headed to the Oval office. President Trump has indicated he will sign the bill. The Congressional Budget Office (CBO) scores the $867 billion farm bill as budget neutral.

Here’s the bill by the numbers:

$428 billion - the legislation will cost over the 2019-2023 period

$867 billion - the legislation will cost over 10 years (2019-2028)

$263 million – the increase in total payments under Title I (commodity programs) over 10 years

$6 million – the decrease in conservation program costs

$153 billion – the amount CBO estimates the option for farmers to pick whether they want to be in the Ag Risk Coverage (ARC) or Price Loss Coverage (PLC) program starting with the 2021 crop year would boost expenses, over 10 years.

$137 million – the increase in costs due to changes made to the PLC program compared to the baseline

$186 million – the amount ARC expenses are expected to fall

$136 billion – the increased costs due to modified loan rates

$123 million – the increase in expenses as a result of allowing farmers to participate in the Dairy Risk Management and Livestock Gross Margin insurance program on the same production

$12.4 billion – the amount Conservation Stewardship Program changes would reduce costs, over 10 years

$8.45 billion – increased expenses over 10 years due to changes to the Environmental Quality Incentives Program

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Comments

 
Spell Check

Darlene
Milburn, NE
12/13/2018 06:58 AM
 

  Why so much help for the farmers and nothing for the ranchers? The farmers grow the cheapest crops because they get federal assistance. The ranchers lose more and more each year and receive NO federal assistance.

 
 
kerrlee
Scottsboro, AL
12/13/2018 10:14 AM
 

  Darlene, Isn't most of the welfare that says farm also ranch? For example, federal loans for beginning and disadvantaged, disaster payments and loans, assistance in livestock watering, subsidized road, telephone, water, power and school systems, conservation practice payments, losses from lightning and predation by protected species. Federally backed insurance, inheritance laws, capital gains, accelerated depreciation and depletion allowances which benefit farms and ranches. And there's the stuff everybody gets: Obama-care, Social Security, Medicare, Medicaid. There is not one among us who is not receiving welfare help.

 
 
Carygn
Lenore, ID
12/13/2018 10:40 AM
 

  80% of the money in the "Farm Bill" doesn't go to farmers or ranchers at all, but to city dwelling food stamp recipients who don't produce any product. Farm Bill funds assisting farmers, generate ag products, jobs, income tax revenue, machinery/parts purchases, etc. generally stimulating the entire US economy, bringing money into our country from outside our borders. In the economic circle, the dollar starts at the raw industry product.

 
 

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