MAY 15, 2006

ISSUE 1115

JOHANNS RELEASES FIRST FARM BILL PAPER

Agriculture Secretary Mike Johanns released a risk management briefing paper Monday (May 8), the first in a series of documents intended to provide factual information and continue the
national discussion about best policy approaches in preparation for the 2007 Farm Bill.

The paper offers up three approaches to agricultural risk management in the next farm bill: 1) continue existing farm programs but make them WTO consistent, 2) replace existing programs with one that focuses on revenue shortfalls, and 3) replace existing payments with a cadre of crop insurance products, farm savings accounts, and conservation programs.

USDA said the concepts in the document are based on the more than 4,000 comments received orally and in writing during 52 USDA Farm Bill Forums across the nation. It may be viewed through a link in the Resource Library section of www.ffva.com.

The next subject for analysis will be conservation.