A $939 billion agriculture bill opposed by Republicans over 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 vote today came less than two weeks after the Senate passed a $955 billion version. Without a new law, current programs begin to expire on Sept. 30, potentially doubling milk prices next year. Republicans supported the measure 171-62 while Democrats voted 24-172 in opposition. “This bill should never have been brought to the floor” because of the cuts to food stamps, said Representative Yvette Clark, a New York Democrat. “We are in a time when people are vulnerable, and this bill would make them more vulnerable. It was time to take a stand.” House leaders can try again later with this version, or bring up a revised measure. The farm bill, which would benefit crop-buyers such as Archer-Daniels-Midland Co. (ADM), grocers including Supervalu Inc. (SVU) and insurers including Wells Fargo & Co (WFG). and Ace Ltd (ACE), has been working through Congress for almost two years. The current authorization for 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 its own. Democratic Opposition The defeated bill proposed cutting $20.5 billion from the Supplemental Nutrition Assistance Program, known as food stamps, and rein in insurance subsidies to growers of corn, wheat and other crops. Democrats including Minority Leader Nancy Pelosi of California and Steny Hoyer of Maryland, the second-ranking Democrat in the House, voted against the bill. House Speaker John Boehner, an Ohio Republican, and Majority Leader Eric Cantor of Virginia voted for the measure. “This proved to be a heavier lift than even I expected,” said Representative Frank Lucas of Oklahoma, the Republican chairman of the Agriculture Committee, which recommended approval of the measure. “I expect there will be a next step.” While supporters had called the bill a compromise that cut farm payments and reined in welfare programs, budget watchdogs said the plan was loaded with provisions benefiting everything from catfish to sushi rice at a time when producer profits are projected at a record $128.2 billion this year. Spending by farm lobbyists increased to $138 million last year from $112 million in 2007, the year before the previous farm bill passed, according to the Center for Responsive Politics, a Washington-based research group that tracks spending on lobbying. Agriculture-industry employees spent $91 million on the 2012 elections, up from $70 million in 2008. The Senate bill is S. 954. The House bill is H.R. 1947. bloomberg/news/2013-06-20/farm-law-fails-as-u-s-house-rebellion-upends-subsidy-overhaul.html
Posted on: Thu, 20 Jun 2013 19:33:32 +0000
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