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Senate Votes Down Changes to Farm Payment Limits

Financial Spread Trading By Staff

Despite last year's Senate vote, passage of a reform bill a second time would be no sure thing. Under Senate rules, the bill could be subject to a filibuster, requiring 60 votes to break. Last year, McCain and Feingold appeared to have that level of support; whether that has changed this year remains to be seen. 2002

Nfl Betting Spread (AXcess News) Washington - The Senate backed Saxby Chambliss (R-GA) Senate Agriculture Committee Chairmanin votingagainst any changes to program eligibility rules for farmers receiving commodity farm payments. Fifty-three Senators backed Chambliss' move.

On a 26 to 21 vote, the Senate voted to reject Lynn Buhl as secretary of the environment, the first time since the state went to a Cabinet system in 1969 that a nominee has been turned down. Senate President Thomas V. Mike Miller Jr. (Prince George's) and 25 other Democrats voted no, while seven Democrats joined all 14 Republicans in supporting the nomination.

Commodity Spread Trading Chairman Chambliss told Senators that the proposed amendment by Senators Chuck Grassley (R-IA) and Byron Dorgan (D-ND) to S. 1932, "The Omnibus Deficit Reduction Reconciliation Bill of 2005," would not save any additional money, and would negate the contract Congress signed with producers with passage of the 2002 farm bill.

Of the 11 farms preserved in Burlington County, the Johnson farm in Medford is the largest. The county has already paid for the land; the state voted Tuesday to reimburse the county for its expense. Eric Johnson explained how it worked. For the first 18 years, his family will receive about $120, 000 as interest payments on the land. After that, the Johnsons will get a balloon payment for the rest of the cost of the $2 million farm.

Betting Exchange Spread "The payment limitation amendment disproportionally penalizes southern commodities, and also fails in overall budget savings, by spreading it thinly back into a one-year delay of commodity cuts, and some assistance to future spending available for only two of the many conservation programs," said Chambliss.

Supporters of the program say the normal payment limits are too low. At last year's market prices, acre cotton farm and a 6, acre soybean farm would have reached the $150, 000 payment limit.

Advanced Commodity Spread Chairman Chambliss said more producers would feel the financial pressures from additional limitations needlessly at a time when the deficit reduction focus is on trimming spending, and that policy changes should be reserved for the 2007 farm bill debate.

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Online Spread Betting In Senate debate Wednesday over this amendment, Chairman Chambliss said the financial squeeze of additional payment limits would now affect corn growers due to current low market prices. Chambliss added that further payment limits could also spread to affect fruit and vegetable producers when corn, rice and cotton producers hit by further payment limits shift their acreage into competition with fruits and vegetables, with increased supply that negatively effects market prices.

Stock Spread Trading Source: Georgia Farm Bureau

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