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Federal update: Farm Bill
Story Date: 10/1/2012
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Source: NCDA&CS, Sept. 2012
Congress has recessed until Nov. 13 without passing a five-year Farm Bill or an extension of current law. While the current Farm Bill expires on Sept. 30, the impacts will not be immediately felt. For example, the 2008 Farm Bill covers all of 2012's crops, so even if crops have not yet been harvested, they will still be covered. In addition, without a five-year bill or extension of current law, federal price supports revert back to their 1949 levels, but most impacts on commodities will not be felt until winter wheat next spring. Other programs, such as SNAP, will also continue despite the expiration of the current bill. More immediate impacts will be felt in the dairy industry and by folks using the Market Access Program to help with international trade.
There are 37 programs, including disaster assistance, that will not continue. To view a list and summary of these programs, please read this report from the Congressional Research Service.
Although the House will not take up the bill until after the election, there is still hope that a bill can be finalized. In 2007, the Farm Bill was first extended on Dec. 26, and was extended a couple of more times before it was actually completed in 2008.
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