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White House 2020 budget proposes steep subsidy cuts to farmers

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HUMEYRA PAMUK: ‘President Donald Trump’s 2020 budget on Monday proposed a 15 percent cut for the U.S. Department of Agriculture, calling its subsidies to farmers “overly generous”… The Republican president’s budget requested $20.8 billion for the USDA, a cut of $3.6 billion, or 15 percent, from the 2019 estimate, according to the proposed budget text. It proposes reducing premium subsidies for crop insurance, limiting the number of producers who would be eligible and tightening commodity payment limits.

“The budget also proposes that USDA responsibly and efficiently use taxpayer resources by making targeted reforms to duplicative programs and overly generous subsidy programs,” the document said… The budget proposes to reduce the average premium subsidy for crop insurance to 48 percent from 62 percent and limit subsidies to producers that posted an adjusted gross income of half-a-million dollars or less’. SOURCE…

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