Cotton Industry Applauds House Passage of New Farm Bill

The U.S. cotton industry expressed gratitude – and relief – on the news that the U.S. House of Representatives approved new farm bill legislation January 29 by a vote of 251-166.

The National Cotton Council (NCC) was quick to commend the House for their strong bi-partisan action.

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NCC Chairman Jimmy Dodson reiterated appreciation for the bill’s authorization of a new crop insurance product tailored to cotton that represents an important step to achieving a final resolution of the long-standing Brazil WTO case.

“We want to thank House Agriculture Committee Chairman Frank Lucas and Ranking Member Collin Peterson for their perseverance in getting this fiscally-responsible, comprehensive five-year farm legislation to the next step,” said Dodson, a South Texas cotton producer. “Our hope is that the Senate will move swiftly in passing this important measure and that the President will sign it. That will provide our nation’s farmers with a solid risk management mechanism so they can continue producing safe, abundant, and affordable food and fiber.”

Dodson emphasized again that “a viable production agriculture sector is critical to our national security and our economy, and this legislation is essential to production agriculture’s stability.”

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For the cotton industry, the new legislation represents a shift from direct cash payments to the Stacked Income Protection Plan, or STAX – a crop insurance-based program that provides cotton growers a safety net and the flexibility to tailor their crop insurance to the appropriate risk. The bill also includes a one-year transition program for cotton, since enactment of legislation comes too late to allow USDA and the private insurance sector to fully implement the STAX program for 2014.

“This legislative package adequately meets the needs of cotton producers across the Cotton Belt, and is the best we could have expected in this budgetary climate,” said Plains Cotton Growers (PCG) President Craig Heinrich, a cotton grower from Slaton, TX. “This bill will save $23 billion over 10 years, reforms and streamlines programs, and gives farmers assurance that they can continue to grow food and fiber to feed and clothe this nation and the world.”

PCG Executive Vice President Steve Verett also expressed appreciation to members of the farm bill conference committee for their work in successfully negotiating a package that cuts the deficit, reduces the size and scope of government and achieves necessary reform.

“However, our work is not done,” said Verett. “We must continue working together to pass this bill through the Senate and have it signed by the President.”

The Senate is expected to vote on the new farm legislation within days, with little resistance anticipated.

 

Sources – National Cotton Council, Plains Cotton Growers

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