Congressional negotiators announced a deal on a new five-year farm bill on Monday that would reduce government spending by some $23 billion over the next decade. The bill overhauls the country’s current system of agricultural subsidies, ending direct payments to farmers for growing crops in favor of investments in crop insurance. The new measure also includes a 1 percent cut to food stamps, which scales back the proposed 5 percent cut that was backed by House Republicans in September of last year.
Here’s more on the agreement from the New York Times:
The bipartisan agreement, two years after lawmakers began work on the nearly $1 trillion bill, is a major step forward in reauthorizing hundreds of farm and nutrition programs that must be renewed every five years. And, at least for now, it brings an end to the partisan fighting that stalled two previous attempts to pass the legislation. The bill would reduce spending by about $23 billion over the next 10 years.
The House is expected to vote on the bill on Wednesday, but there are still potential political hurdles ahead—namely, the food stamp program. The proposed cuts to food stamps are deeper than what Senate Democrats supported last year and may not be deep enough to satisfy House conservatives who supported larger cuts to the program.
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