Illinois Farm Bureau, IL
08-08-06
Ag Summit Looks at Varied Ideas for Farm Bill
The IFB Ag Leadership Summit continued Tuesday in Springfield. This morning,
Deere CEO Bob Lane said rural America requires both leadership and investment to remain prosperous. He said industrial innovation is another key driver to rural growth.
Bill Hoagland, a congressional budget staffer, told members that the growing federal deficit will dictate the structure of the next Farm Bill. He said with current spending patterns, Social Security, Medicare and interest payments on the national debt will swamp tax revenues by the middle of the 21st Century. He said recent news reports of alleged farm payment abuses will prod Congress to change the current farm payment structure.
During a mid-day luncheon, representatives from the cotton, soybean, and corn growers associations outlined their desires in a new farm bill. University of
George ag economist Don Shurley said the 2002 farm bill has been good for cotton growers. He said there is general consensus that the marketing loan should be continued, all production should be eligible for loan, and payment limits not be lowered.
This afternoon's session focused on various farm policy concepts from Iowa
State University's Bruce Babcock and University of Kentucky's David
Freshwater.
We have an audio wrap from RFD Radio's Josh St. Peters with a wrap-up of activities at the IFB Ag Summit. Click on the file listed below to listen.