TYLER, TEXAS (KETK) — A new Farm Bill that was two years in the making was passed by Congress on Tuesday, and now President Obama is expected to sign the bill on Friday to finalize it.
The new 2014 Farm Bill is worth nearly $1-trillion, which is the amount included in the Congressional Budget for 10 years.
"Right now we are waiting on President Obama to sign it into law, currently it has passes the House and Senate," said Ashley Pellegrin, Extension Agent for Prairie View A&M.
The Senate voted 68-32, 44 Democrats and 22 Republicans. Texas A&M officials tells us, the Farm Bill has caused a lot of controversy over the past few years. "A lot of people call it the farm bill, some people prefer to call it a food bill, but it is considered the farm bill, but a lot of has to do with government assistance," said Pellerin.
The U.S. Department of Agriculture officials tell us more than 70- percent goes toward food stamps. It's reported for the next 10 years, $8-billion will be cut from food stamps, and that number is way off from the $40-billion cut Republicans in the House approved and were hoping for.
Texas A&M officials say, farmers and ranchers will be affected by direct payments and crop insurance. "As far as 2014 goes, direct payments will still be paid out to those who have elected to receive that, starting 2015, will go into the farm bill options as far insurance and crop coverage," said Pellerin.
The USDA released a statement from U.S. Secretary of Agriculture Tom Vilsack "While no legislation is perfect, this bill is a strong investment in american agriculture and supports the continued global leadership of our farmers and ranchers."
Ranchers and Farmers depend on bill to receive subsidies fro crop production and livestock. "Not only are they waiting on payments, a lot of the times the farm bill since it's a five-year bill it helps agriculture producers have that five-year outlook because they're have that financial security and knowing what their options are," said Pellerin.
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Article shared by Texas A&M Agrilife.
Information shared by the U.S. Department of Agriculture: