The Ranking Democrat of the House Agriculture Committee predicts the farm bill will be considered next week. Representative Collin Peterson of Minnesota told reporters this week the bill is nearly finalized and should be filed Monday, with House consideration Wednesday and Senate consideration Thursday.
Peterson says the bill would rename the Margin Protection Program and change the way it operates in an effort to better help dairy farmers. He says dairy farmers “got the best deal” out of the agreement, and “they needed it.” The bill includes another provision that will refund half the premiums paid under the MPP program “because everybody thought they got ripped off.”
Peterson also says of the agreement in principle that it would raise the Conservation Reserve Program, or CRP, acreage by three million acres, but reform how it works. He says there are also changes in how yield is calculated in the Ag Risk Coverage and Price Loss Coverage programs. Full details of the bill will be made available next week.