CBO scores $35 billion in savings in House farm bill
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WASHINGTON, July 6, 2012- The Congressional Budget Office (CBO) released its score of the House Agriculture Committee's draft farm bill yesterday, which estimates the proposal would reduce direct spending by $35.1 billion over the 2013-2022 period.
Aligning with the Committee's information on the draft released yesterday, CBO estimates Commodity Title savings at $23.6 billion, Conservation Title savings at $6 billion and Nutrition Title savings at $16 billion. The Crop Insurance Title is increased by $9.5 billion, to supplement a safety net after the elimination of direct payments in the Commodity Title.
The score has approximately $12 billion more in spending reductions than the bill passed in the Senate, which includes only $4.5 billion in Nutrition Title savings.
Senate Agriculture Committee Chairwoman Debbie Stabenow, D-Mich., released a statement yesterday commending the House Agriculture Committee leaders on moving forward with the bill.
“I am very concerned about some of the differences between the two bills-for example, rather than focusing on fraud and misuse like the Senate bill, the House bill takes far greater cuts in food assistance by changing eligibility rules so that some people truly in need will not receive the help their family needs,” she said. “I expect them to have a successful markup and for House Leadership to give them time on the House floor as soon as possible so that we can finish the 2012 Farm Bill in a timely manner.”
House Agriculture Committee Chairman Frank Lucas, R-Okla., scheduled a markup of the bill on July 11, which is expected to last about three days. The House will then need to schedule time of the floor to consider the bill before the two chambers can reconcile its differences in the five-year reauthorization before the current bill expires on September 30.
Find the link to the House bill's CBO score here: http://cbo.gov/publication/43395
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