Press Releases
Farm Emergency Aid Awaits President's SignatureCongress provides payments beginning 2 weeks after enactment
Washington, DC,
October 13, 1999
Emergency farm aid designed to place money quickly in the hands of financially struggling producers cleared Congress Wednesday afternoon, matching the Secretary of Agriculture's highest estimated disaster funding needs. As designed by Congress, within two weeks of the president's signature the $8.7 billion aid package will deliver $5.5 billion to farmers, each receiving an amount equal to their 1999 transition payment. In addition, the bill allows producers to collect their anticipated yearly transition payment immediately, in essence doubling the amount of cash infusion into rural areas at a time when severe weather has destroyed harvests, and poor market prices have withered the value of crops that do survive. "America's producers know that in very short order they will have in hand this greatly-needed assistance they have been counting on," said House Agriculture Committee Chairman Larry Combest (R-Texas). "The amount of disaster aid is at the top end of funding estimates that the Secretary of Agriculture testified was needed. In addition to this aid, Congress is addressing the producer's more lasting needs through legislation for expanded crop and livestock revenue insurance coverage, as well as my agenda for an early review of current farm policy." "Senate action was the final hurdle in getting some much-needed relief out to farm country," said Charlie Stenholm (D-Texas), the Committee's ranking minority member. "Now it's time for Congress to roll up its sleeves and get to work developing a comprehensive agriculture policy that provides a real safety net that protects the nation's producers from weather disasters and low prices." The emergency assistance within H.R. 1906 (FY 2000 Agriculture Appropriations) includes: Market loss payments of $5.544 billion
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