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Farm Events: |
Farm News: Feingold Helps Close Farm Payment LoopholescommentsPosted: 08.06.2010
Wisconsin Senator Russ Feingold is building on his Control Spending Now Act efforts to limit payments to big agribusinesses, by introducing a bipartisan bill with Senator Chuck Grassley (R-IA) that will help farm payments flow to family farmers rather than non-farmers.
The Grassley-Feingold Rural America Preservation Act could save taxpayers more than $1 billion over the next 10 years by closing loopholes in the farm program that allows mega-farms and non-farmers to collect huge government checks each year and avoid the existing payment limits. "For too long large agribusinesses and non-farmers have gamed the limits on farm subsidy programs, taking limited and critical resources better used to support our family farmers who are facing numerous challenges in the current economic climate," Feingold said. "This legislation is a common sense, bipartisan approach to helping Wisconsin family farms while saving taxpayer dollars."
Feingold and Grassley's measure is designed to make sure payments flow to working farmers instead of letting investors and other non-farmers "game" the system. The legislation will cap farm commodity subsidy payments to $250,000. The Rural America Preservation Act will also simplify the complicated legal games now played to avoid the limitation and close other such loopholes.
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