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The Agricultural Act of 2014

The Agricultural Act of 2014. Outline. Timeline Budget Policy Issues Commodity Title Risk Management Options Crop Insurance Conservation Programs Questions. Timeline of the 2014 Farm Bill. Nov 2011. June 2013. May 2011.

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The Agricultural Act of 2014

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  1. The Agricultural Act of 2014

  2. Outline • Timeline • Budget • Policy Issues • Commodity Title • Risk Management Options • Crop Insurance • Conservation Programs • Questions

  3. Timeline of the 2014 Farm Bill Nov 2011 June 2013 May 2011 Farm Bill discussions in Joint Select Committee for Deficit Reduction “Super Committee” Senate Passage of 2013 Farm Bill Senate’s 1st Hearing on Farm Bill 2011 1 2 8 April 2012 June 2012 Senate Cmte Markup of 2012 Farm Bill House Cmte Markup of 2012 Farm Bill Senate Passage of 2012 Farm Bill 4 3 Jan 2013 May 2013 July 2013 House Passage of 2013 Farm Bill (No nutrition title) Senate Cmte Markup of 2013 Farm Bill House Cmte Markup of 2013 Farm Bill 1-year extension of most Farm Bill Programs 7 6 5 5 Feb 7, 2014: President Obama Signs Farm Bill into law. Jan 2014 House Passes Conference Report Senate Passes Conference Report 8 9 Today

  4. Farm Bill Budget • $23 Billion in Net Savings • $18 billion saved in Commodity Programs • $8 billion saved in Nutrition • $6 billion saved in Conservation • $5 billion added to Crop Insurance • $3 billion added to Energy, Research, Spec. Crops, etc.

  5. Commodity Title • Eliminates Direct Payments, Counter-cyclical Payments, and the ACRE Program • Allows producers to choose between three new price/revenue loss programs • Continues marketing loan program • Continues the sugar program • Adds new margin protection program for dairy producers • Makes livestock disaster assistance programs permanent

  6. Focus On Risk Management • Producers make a 1-time irrevocable choice between: • Price Loss Coverage (PLC) • County-level Ag Risk Coverage (ARC-County) • Individual-level Ag Risk Coverage (ARC-Individual) • Note: this choice is commodity-by-commodity and farm-by-farm, except for ARC-Individual.

  7. Payment Acres • All programs pay on a percentage of base acres: • Producers will have the opportunity to reallocate their existing base acres • Producers will have the opportunity to update their base yields • ARC-County and PLC will pay on 85% of base acres • ARC-Individual will pay on 65% of base acres

  8. Crop Insurance • Invests over $5 billion into Crop Insurance • STAX for Cotton • Addresses Declining APH Yields • Creates new Supplemental Coverage Option • Support for Young and Beginning Farmers • Expands crop insurance to underserved fruit and vegetable producers

  9. Conservation • Shifts From Land Retirement to Working Lands • Consolidates 23 programs into 13 • Focuses on 4 Big Buckets of Conservation Programs

  10. Conservation Programs Easements Streamlines 3 separate programs into 1 that focuses on preserving Ag lands and Wetlands CRP Significant savings by stair-stepping program from 27.5 million to 24 million acres by 2018 Partnerships Regional Conservation Partnership Program (RCPP) consolidates four partnership programs Working Lands EQIP CSP Sodsaver Conservation Compliance

  11. Questions? • Contact info: • Joe Shultz • Senate Committee on Agriculture, Nutrition and Forestry • 202-224-2035 • joseph_shultz@ag.senate.gov

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