FARM BILL NEGOTIATIONS INTENSIFY AS DEADLINE APPROACHES

News Date March 03, 2008

       House and Senate agricultural leaders are continuing to hold intense negotiations on the 2007 farm bill with administration officials and could reach an agreement on a final funding framework any day now. Lawmakers are struggling to reach a compromise before March 15 when the current farm bill expires (see separate story). 
       Last week, congressional Agriculture Committee leaders held a high-level meeting with House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry Reid (D-Nev.) to discuss the farm bill budget. One of the major difficulties facing lawmakers is how to pay for the proposed increase in farm bill funding and what revenue offsets will be used. The administration has repeatedly threatened to veto the farm bill if it includes any tax increases. The leadership meeting on February 27 included House Ways and Means Committee Chairman Charlie Rangel (D-N.Y.) and Senate Finance Committee Chairman Max Baucus (D-Mont.). They initially said they would provide a list of proposed funding offsets by February 29, but later acknowledged more time was needed. 
       At press time, the agricultural media reported that administration officials had proposed a list of budget offsets and policy changes to congressional leaders over the weekend. According to press reports, House Agriculture Committee Chairman Collin Peterson (D-Minn.) said the administration would agree to a $10 billion budget increase over baseline spending, but some of the proposed offsets were unacceptable to Congress. Details on the Administration's proposal and budget offsets have not been released. (Contact: Charlie Ingram)