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Economic Assistance Package Goes Down
to the Wire; Senate Passes House-Approved Package (8-3-01)
Late Friday morning,
the Senate agreed to pass H.R. 2213, the House-approved FY 2001 economic
aid package that totals $5.5 billion.
With time running
out and with the House adjourning the night before, there was no time
left for a conference to resolve what had been different House and Senate
aid packages. The Senate package also faced a potential veto from President
Bush, so to ensure that economic aid was delivered to producers this
year, the Senate passed the House-approved package.
The bill includes
funds for supplemental AMTA payments in the amount of $4.622 million.
Oilseeds will get $423 million, and the balance goes to cottonseeds
and peanuts. Corn producers can expect to receive aid at approximately
$.31 per bushel of corn and oilseed payments at about 85 percent of
last year's level of payments.
The National Corn
Growers Association (NCGA) and other agriculture groups spent this week
urging the Senate Agriculture Committee to hold the line with a $5.5
billion emergency aid package for program crops and oilseeds. The implicit
message: Let the specialty crops find their funds elsewhere, and let's
get a FY '01 economic aid package to the President for his signature.
NCGA this morning
sent a letter to all senators indicating our concern about the Senate's
progress on emergency aid. "With the House of Representatives already
in recess, the only course available to the Senate to ensure that farmers
receive $5.5 billion of funds earmarked for 2001 is to pass H.R. 2213
as passed by the House."
The letter urged
the Senate to pass the House bill without amendment and send it directly
the President. "Without timely action, we face the prospect of
missing the budget-imposed September 30 deadline and forfeiting this
crucial financial aid."
NCGA's letter noted
that prices of many commodities are even lower than last year, and farmers
are confronted with higher fuel and other input costs. As a result,
"U.S. farmers need this assistance package more than ever. It is
imperative that Congress complete its work right away."
Last
reviewed August 3, 2001
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