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USDA Budget Ends Direct Payments
2013-04-15 17:23:00| National Hog Farmer
By P. Scott Shearer, Bockorny Group, Washington, DC The administration released its $3.77 trillion budget for FY 2014, which proposes new taxes on wealthy individuals, cuts to Social Security and Medicare with increases for education and infrastructure. Top income earners tax deductions would be limited to 28%. USDAs budget is estimated at $146 billion. Nearly 83% of the budget is associated with mandatory programs, such as crop insurance, nutrition assistance, farm commodity and trade programs and various conservation programs. The remaining 17% is associated with discretionary programs, such as food safety, rural development loans and grants, research and education, animal and plant health, national forests, soil and water conservation technical assistance and Women, Infant and Children (WIC) program. The proposed budget would reduce the deficit by $38 billion over 10 years by eliminating direct payments, reduce subsidies for crop insurance companies and producers, and streamline conservation programs. read more
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Category:Agriculture and Forestry