Senators offer alternative means to cutting farm subsidies

Senate Agriculture Committee chairman Tom Harkin has recommended direct payments to grain, cotton and soybean producers be shut off based on the basis of adjusted gross income ($200,000 or $250,000 a year) as an alternative to President Obama’s plan that would phase out direct-payment subsidies to producers with more than $500,000 a year in sales. Proponents of the new plan say it’s a better indicator of producers real financial situation because it takes expenses into consideration. For more information, read the Reuters article.

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