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Bush Administration Supports Farm Subsidy Programs
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Funds Mutual Top (AXcess News) Washington - US Secretary of Agriculture Mike Johanns disclosed details of the USDA budget last week, in which Johanns commented on important programs to the Bush administration. Today, an economic report issued by a Council of Economic Advisers for the Bush administration clarified the President's support of farm subsidy programs in the 2007 Farm bill.
Congress and the Administration must come to grips with macro budget concerns. Current deficits, if they continue at along the projected path, will affect national security. While supplemental appropriations have been successful so far, it is not clear that the Global War on Terror and mandatory spending programs will allow Congress to maintain funding at the present level. A funding crunch in the future is likely. The QDR, as a process, must help planners think through and predict funding levels sufficient to fund operations and maintenance, requirements, personnel, and other priorities.
Funds Market Money Environmental Working Group President Ken Cook issueda statement after hearing the Bush administration's position on U.S. farm subsidies.
This means communities will have even less resources for fire protection than promised them when the President signed the bill last year. We opposed "Healthy Forests, " but it is now the law. The Bush administration and timber industry got the bill they wanted, and it fails to protect communities from wildfire. The administration's funding proposals show that the Bush administration is not prepared to back up its community protection rhetoric with resources and action.
Funds In Investing Mutual "We commend the Bush administration for taking this bold position on farm subsidies and hope that they will put their shoulder to the political wheel to accomplish wide-ranging reform in the 2007 Farm bill," said Cook.
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Fidelity Funds Mutual Alabama farmers pinched by low commodity prices and soaring fuel and fertilizer costs asked members of the U.S. House of Representatives Agriculture Committee to preserve current price support and conservation programs during a full committee hearing on the 2007 Farm Bill Feb. 7.
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Funds Load Mutual No "The safety net that is in place now should continue to be there so that our farmers can continue to produce the most affordable, dependable and safest food in the world," said Alabama Farmers Federation President Jerry A. Newby. "Having the ability to produce the nations food is a matter of national security, and we only have to look at the situation with energy to see what happens when we depend on others."
Funds Investment "The President's agriculture budget provides important resources for farmers and ranchers, while doing our part to avoid passing on the deficit to our children and grandchildren," said Johanns. "The agriculture budget provides funds to protect America's food supply, improve nutrition and health, conserve and enhance our natural resources and enhance economic opportunities for agricultural producers."
Funds Retirement Total USDA expenditures are estimated at about $93 billion in 2007, nearly $3 billion below the 2006 level. Roughly 77 percent of expenditures, or $71.3 billion in 2007, will be for mandatory programs that provide services required by law, which include many of the nutrition assistance, commodity, export promotion and conservation programs.
Funds Trust Energy Initiatives
Closed End Funds The budget continues to support efforts to provide tools that help producers manage the impacts of high energy costs, the development of renewable energy resources and new energy-efficient technology, as part of the comprehensive energy strategy announced by Johanns in December 2005.
Funds Ohio Unclaimed For 2007, USDA's core investment in energy-related projects increases to $85 million from $67 million in 2006. This funding includes resources to support renewable energy research and demonstration projects and additional efforts to support energy development and transmission across public lands. In addition, the budget provides in excess of $250 million each year in fiscal years 2006 and 2007 for renewable energy and energy efficiency projects through Rural Development's loan and grants programs.
Aim Funds Commodity Credit Corporation
College Free Funds Grant Net CCC expenditures were over $20 billion in 2005 and are projected to exceed $21 billion in 2006 before coming down to around $19 billion in 2007. In 2007, the reduction of over $2 billion in CCC expenditures is expected because of lower emergency disaster assistance, projected modest commodity-price improvements for some crops and the proposed legislative changes to reduce farm support program spending.
Active Funds Index Investor Reductions in CCC expenditures resulting from the proposed legislative changes will produce savings of about $1 billion in 2007. Over a 10-year period, these changes are expected to save nearly $7.7 billion. This level of savings compares closely with the 2006 proposal, excluding the cost of extending the MILC program for milk producers.
Electronic Funds Transfer Elements of the proposed reforms, which are similar to last year's proposals, include: lowering the payment limit cap for individuals to $250,000 for commodity payments, including all types of marketing loan gains; reducing crop and dairy payments to farmers by 5 percent, requiring the dairy price-support program to minimize expenditures; and imposing a sugar marketing assessment to be paid by sugar processors on all processed sugar and implementing a small assessment on milk marketed by producers.
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