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Voicing concerns that "millionaire farmers" were reaping all the benefits of the farm bill legislation, a coalition of farm-state Senators pushed for these limits. Sen. Charles Grassley (R-IA) was vehement about lowering subsidy caps from $500,000 to $225,000 "we don't want 10 percent of the farmers getting 60 percent of the farm bill." [5]
The 2014 Farm Bill made TAP a permanent disaster program and provided retroactive authority to cover eligible losses back to Oct. 1, 2011. [11] The bill places income caps on farm subsidies, has a price support program for dairy farmers and ends direct payment subsidies, which paid farmers whether or not they actually grew any crops. [9]
The agricultural policy of the United States is composed primarily of the periodically renewed federal U.S. farm bills.The Farm Bills have a rich history which initially sought to provide income and price support to US farmers and prevent them from adverse global as well as local supply and demand shocks.
The Federal Agriculture Improvement and Reform Act of 1996 (P.L. 104-127), known informally as the Freedom to Farm Act, the FAIR Act, or the 1996 U.S. Farm Bill, was the omnibus 1996 farm bill that, among other provisions, revises and simplifies direct payment programs for crops and eliminates milk price supports through direct government purchases.
In United States agricultural policy, the payment limitation refers to the maximum annual amount of farm program benefits a person can receive by law.. Persons are defined under payment limitation regulations, established by USDA, to be individuals, members of joint operations, or entities such as limited partnerships, corporations, associations, trusts, and estates that are actively engaged ...
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The Federal Farm Loan Act of 1916 (Pub. L. 64–158, 39 Stat. 360, enacted July 17, 1916) was a United States federal law aimed at increasing credit to rural family farmers. [ 1 ] [ 2 ] It did so by creating a federal farm loan board, twelve regional farm loan banks and tens of farm loan associations.
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