CQ TODAY MIDDAY UPDATE
July 27, 2007 – 2:10 p.m.
House Passes Farm Policy Overhaul

The House on Friday passed a five-year overhaul of agriculture policy that would impose modest new limits on farm subsidies, increase support for fruit and vegetable growers, bolster land conservation efforts and increase funding for nutrition programs.

By 231-191, the House passed the farm bill (HR 2419) after dispatching 31 amendments aimed at shifting its priorities. The measure would allocate $286 billion over five years.

The Senate is expected to start debating its version of the legislation after the August recess. Current farm programs expire Sept. 30, and it is unlikely that Congress will be able to complete action on a new five-year bill by then. Instead, a short-term extension of the current law is likely to be necessary.

The White House has threatened a veto of the House-passed measure, even though it has said parts of the measure are preferable to current law.

Republicans objected to a tax provision targeting foreign-owned companies that was included to help offset costs of the bill. Democrats said the tax proposal would increase funding for food stamps and close a “loophole” in the tax system.

Realizing he could no longer count on GOP support for his bill, Agriculture Committee Chairman Collin C. Peterson, D-Minn., went into overdrive cutting deals with undecided Democrats to put together the majority needed to pass it.

Source: CQ Today Midday Update
Political Clippings compiled from BNN Frontrunner and CQ Politics.com.
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