House conservatives propose to slash farm programs

Source: By Philip Brasher, Agri-Pulse • Posted: Thursday, July 14, 2022

A conservative group that can claim most House Republicans as members is calling for deep cuts in commodity programs and crop insurance to save taxpayers billions of dollars. The fiscal 2023 budget proposals offered by the Republican Study Committee include proposals to eliminate the “duplicative” Price Loss Coverage and Agriculture Risk Coverage programs to save $42.7 billion over 10 years.
The RSC budget also would bar the agriculture secretary from making payments from the Commodity Credit Corp. account without congressional approval. “The CCC has been given vast unilateral authority to buy surplus agricultural products to manipulate market prices for the purpose of the same kind of subsidies that PLC and ARC achieve,” the budget says.