Feingold says ag can make more cuts

Senator Russ Feingold, a member of the Senate Budget Committee says while the President’s budget does make some attempts to rein in spending, we must do more. The Wisconsin Democrat says some of those cuts can be made in agriculture.

He has proposed a cap on irrigation subsidies at 960 acres and/or $500,000 in gross income, he says that would save $4.4 billion over ten years.

He proposes a reduction in crop insurance subsidies along with increasing the federal share of risk to 20 percent for a $2.1 billion savings over ten years.

He also proposes reducing the maximum direct payment a landowner can get to $20,000 during year when the price of the crop exceeds 110 percent of the target price for a $1 billion savings plus another billion could be saved by capping program payments to $500,000 adjusted gross income and direct payments at $750,000 AGI. Non-farmer payments would become ineligible at $250,000 AGI.

In addition, Feingold calls for elimination of the cotton storage subsidy, saving $570 million and putting grazing fees on Federal lands at the same level as state-owned land generating an additional $155 million over ten years.

Read Senator Feingold’s “Control Spending Now Act“