Tags: Agriculture | Bill | 40Billion | savings

Ag Bill Touted as Saving $40B Over 10 Years

By Gary Cohen   |   Saturday, 15 Oct 2011 02:04 PM

A pair of Indiana Republicans from both sides of Capitol Hill are proposing a farming measure which nearly doubles a deficit savings plan championed by GOP and Democratic members of the House and Senate Agriculture Committees, as reported in The Hill.

agriculture, bill, supercommittee, deficitSenator Dick Lugar and fellow Indiana legislator Rep. Marlin Stutzman are looking for the supercommittee charged with cutting the deficit to take a look at their "Rural Economic Farm and Ranch Sustainability and Hunger Act.

Lugar and Stutzman say their agriculture reform measure would save $40 billion over 10 years.

That is nearly two times the $23 billion savings plan which Republican and Democratic leaders favor on the Agriculture Committees on both sides of the Hill.

A congressional aide says Lugar and Stutzman will be sending a letter this coming week to the supercommittee outlining the details of their bill.

They say their plan "reforms and eliminates farm subsidies by providing a genuine safety net for all producers" and makes "sensible conservation reforms that save an estimated $11 billion over 10 years."

Lugar and Stutzman also say their measure would "close loopholes and eliminate government overlap in federal nutrition programs, saving $14 billion over ten years and cutting 2 percent from nutrition program spending."

They also point out in their letter the measure would "create rural jobs in new and renewable energy" while at the same time invest in agricultural research.

"We look forward to working with you, as well as the rest of the members of the Joint Select Committee on Deficit Reduction, to eliminate outdated and unnecessary programs, provide a cost-effective safety net, and save taxpayer dollars," they include in their letter.

House and Senate Agriculture Committee members are expecting to submit their own recommendations to the supercommitte in the coming week as well, according to a congressional aide.

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