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White House surprises some with new direction for farm policy (Sept. 20, 2001 – CropChoice news) – The Bush administration said yesterday that it would shift U.S. farm policy from a course of subsidies for commodities – mainly cotton, corn, soybeans, wheat and rice – that distort the market to one that encourages conservation, access to foreign markets, investment in infrastructure and more research.
As it stands now, the government rewards mostly large-scale farmers. Less than 10 percent of U.S. farmers receive half of federal subsidies.
The Administration hopes to spend more than $150 billion on a new 10-year farm bill.
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