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New payment limits bill introduced in U.S. Senate

Senators Chuck Grassley of Iowa and Tim Johnson of South Dakota have introduced legislation that would place a hard cap on the farm payments an individual farmer could receive in a year and would close what the senators call “long-abused and well-documented loopholes in the farm payment program.”

The new Grassley-Johnson payment limits bill sets a hard cap for farm payments of $250,000 per married couple, and closes loopholes that allow non-farmers to qualify for federal farm payments.

The senators had introduced similar legislation earlier this Congress, but wanted to be sure the legislative text would accommodate any type of safety-net program adopted in a new farm and nutrition bill.  They say it’s particularly important in light of the growing prospect that direct payments are unlikely to be included in a farm and nutrition bill.  

In his weekly conference call with ag reporters on Wednesday, Grassley discussed and answered questions about the the legislation.

AUDIO: Chuck Grassley (3:42 MP3)

Link to news release on Senator Grassley’s web site