Monday, February 01, 2010

Reducing Payment and AGI Limits

That's in the Presidents budget(page 71):

The Administration proposes to limit farm subsidies to wealthy farmers by reducing the cap on Direct Payments by 25 percent, and reducing each of the Adjusted Gross Income (AGI) commodity payment eligibility limits for farm and non-farm income by $250,000 over three years. This proposal will allow the Department of Agriculture (USDA) to target payments to those who need and can benefit from them most, while at the same time preserving the safety net that protects farmers against low prices and natural disasters.

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