Farm Bill 2012: Stuck in the muck...and what can be done

This week, the House failed to pass a short-term extension of the current farm bill -- possibly for the better as American Enterprise Institute (AEI) agricultural economist Vince Smith explains:

"[R]ight now there is no House Farm bill that is acceptable to a majority of representatives. In addition, the House and Senate bills have very different farm subsidy programs, and propose very different cuts to nutrition programs (smaller in the Senate and larger in the House bill). And both bills have farm subsidy provisions that could be very expensive for taxpayers while mainly benefiting large and wealthy farm household… the farm lobbies would all like to see a new farm bill before the end of September, because they fear that a post-election farm bill really would mean substantial cuts to farm subsidies…From a taxpayer’s perspective…Congressional inaction that would delay the development of new farm bill legislation until after November 6 would probably be a good thing."

Read Vince's full update here and find out more information about AEI's American Boondoggle: Fixing the 2012 Farm Bill project at www.aei.org/americanboondoggle.

Vince Smith is a co-director of the American Enterprise Institute's agricultural policy initiative and a professor at Montana State University. He is available for interviews and can be reached at vsmith@montana.edu.

For additional help, other media inquiries please contact:

TV Jesse Blumenthal jesse@aei.org / 202.862.4870

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Print or Web Jesse Blumenthal jesse@aei.org / 202.862.4870, Michael Pratt at michael.pratt@aei.org / 202.862.5823, or Veronique Rodman at vrodman@aei.org / 202.862.4871

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About the Author

 

Vincent H.
Smith
  • Vincent H. Smith is Professor of Economics in the Department of Agricultural Economics and Economics at Montana State University and co-director of MSU’s Agricultural Marketing Policy Center. He received his Ph.D. from North Carolina State University in 1987 and his bachelor’s and master’s degrees from the University of Manchester in 1970 and 1971. Dr. Smith’s current research program examines agricultural trade and domestic policy issues, with a particular focus on agricultural insurance, agricultural science policy, domestic and world commodity markets, risk management, and agricultural trade policy. He has authored nine books and monographs and published over 100 articles on agricultural and other policy and economic issues. His work has been recognized nationally through multiple national awards for outstanding research programs. In 2008, he became a Distinguished Scholar of the Western Agricultural Economics Association. Currently he is a Visiting AEI Scholar and co-director of AEI’s agricultural policy initiative. Dr. Smith is married and he and his wife, Laura, have two children, Karen and Meredith.
  • Email: uaevs@montana.edu
  • Assistant Info

    Name: Neil McCray
    Phone: 2028625826
    Email: neil.mccray@aei.org

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