Tuesday the Senate Agriculture Committee passed a new five-year farm bill. The bill cuts subsidy payments and the food stamp program while expanding crop insurance. The Senate bill will reduce spending by $24 billion over 10 years. The bill passed 15-5 in committee with a full Senate vote expected later this month. USA Today reports:
The farm bill passed on Tuesday eliminates $17 billion in farm subsidies, $5 billion a year in direct payments given to farmers regardless of need and reduces $4 billion from conservation programs largely through consolidation. Spending for food stamp programs, used by 48 million Americans, also would be cut by $4 billion.
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