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Farm Bill's Negotiators Settle

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The Associated Press

Published: May 8, 2008

WASHINGTON - Negotiators on a five-year, $300 billion farm bill say they have reached a tentative agreement on the legislation and it will be considered by the House and Senate next week.

But the Bush administration has objected to the bill, and the White House says it seems unlikely that Congress will pass farm legislation the president can sign. President Bush has said the bill is "bloated" with farmer subsidies in a time of record crop prices and is too expensive.
Senate Agriculture Committee Chairman Tom Harkin, D-Iowa, said after meetings Wednesday that the negotiating is finished, but he acknowledged that minor issues remain unresolved.

Democratic Sen. Kent Conrad of North Dakota said Wednesday's agreement moved Congress closer to the White House on the amount of government subsidies that would be directed to wealthy farmers, an issue that has been a sticking point for months.

As of Tuesday, negotiators were considering eliminating some government payments to individuals who make more than $750,000 in farm income annually, which would be closer to the White House's proposal on limiting subsidies. A congressional aide said Wednesday that the $750,000 cap remained in the final agreement.

The Bush administration originally proposed a cap for those who make more than $200,000 in annual gross income, but has indicated it could accept a limit of $500,000. Last week, negotiators were considering a $950,000 cap on farm income.

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