logo
  Join        Login             Stock Quote

Cuts to Large Farm Subsidies Considered as Means to Avoid Sequester

Friday, February 8, 2013 1:41 PM


WASHINGTON, Feb. 8, 2013 /PRNewswire-USNewswire/ -- Senate Democrats are crafting a proposal that would avoid automatic spending cuts to the federal budget through Sept. 30, 2013. Currently, cuts are slated to take effect on March 1 if Congress and the Administration cannot agree to a plan that saves revenue. The proposal would save money by cutting direct payments funded through the farm bill.

"Typically, direct payments disproportionately benefit high-income farmers and often fail to reach the surrounding rural economies," said Rev. David Beckmann, president of Bread for the World. "With dangerous cuts to vital safety-net programs looming, hefty payments to large-scale producers cannot be easily justified."

The package is expected to include both tax revenue and spending cuts, totaling approximately $84 billion in savings. Direct payments would cost the United States $4.96 billion in 2013.

"While we support cuts to large farm subsidies, we caution that any further reductions to agriculture-related programs must not increase hunger and poverty," added Beckmann. "Programs like SNAP and international food aid must be protected throughout the budget negotiations." 

Bread's mobilization (in 2008-2009) to shift funding from direct payments to food stamps, food aid, and other positive purposes helped to discredit direct payments.

Bread for the World (www.bread.org) is a collective Christian voice urging our nation's decision makers to end hunger at home and abroad.

SOURCE Bread for the World

(Source: PR Newswire )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.