Friday, May 9, 2008

NEW FARM DEAL DRAWS VETO THREAT

(CQ Today) -- Despite some House Republican opposition to the new farm bill, lawmakers on both sides of the aisle say they’re confident Congress would be able to override a veto of the bill. On Thursday, Agriculture Secretary Ed Schafer reiterated the administration’s veto threat, saying farm subsidies in the bill are still far too generous. The Congressional Budget Office has not estimated the final cost of the agreement, but lawmakers and their aides said it could reach upward of $600 billion over 10 years. The wide-ranging bill (HR 2419) includes new limits on who can get crop supports, extra funding for nutrition, rural development programs and expanded conservation initiatives, among other things. Conferees are expected to sign off on the agreement by early next week, allowing the House and Senate to vote on the conference report May 14, lawmakers said.