ABSTRACT

Farm Bill Legislative Action in the 110th Congress [Updated June 19, 2008]   [open pdf - 232KB]

"'On May 14, 2008, the House passed the conference agreement on the 2008 farm bill (H.R. 2419, The Food, Conservation, and Energy Act of 2008) by a vote of 318-106. The next day, the Senate passed the same bill by a vote of 81-15. Concurrently, on May 14, both the House and Senate passed, by voice vote, the final temporary extension of current law lasting until the earlier of May 23, 2008, or the date the 2008 farm bill was signed into law. […] The Congressional Budget Office (CBO) estimates the total cost of the 2008 bill (i.e., baseline plus new funding, using the March 2007 baseline) at just under $287 billion over FY2008-FY2012. Of the $287 billion in total five-year budget authority for programs under the new law -- not including revenue and cost-offset provisions in the bill -- about $42 billion (14%) in projected spending will support commodity crops, $189 billion (65%) will support the cost of food stamps and commodity assistance, $24 billion (8%) will support conservation programs, and $22 billion (8%) will support crop insurance. Another $8 billion is expected to be spent on trade, horticulture and livestock production, rural development, research, forestry and energy, and other programs. For FY2008-FY2012, the conference bill also includes nearly $4 billion in costs to pay for supplemental disaster assistance (included under Title XV). Over the full 10-year period (2008-2017), other tax-related provisions in that bill title, particularly from customs user fees in the bill, will generate additional funding for provisions throughout the conference bill, including in the nutrition, conservation, and energy titles, among others. This report will be updated."

Report Number:
CRS Report for Congress, RL33934
Author:
Publisher:
Date:
2008-06-19
Series:
Copyright:
Public Domain
Retrieved From:
Via E-mail
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations