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Farm Bill Reshapes Farm Support for Consumers
Washington officials say the new farm law shifts four-year income supports to producers via direct payments, lowers reliance on price-support loans, and aims to reduce the real cost of food as a share of take-home pay from 18.3 percent toward 17 by 1970. It preserves rice price supports, caps 65 percent parity for flour, and allows dairy purchases to meet relief needs, with total taxpayer costs projected near 4 billion dollars for 1966, a decrease from prior levels.
MENTIONED IN THIS ARTICLE
Washington
UPI
Johnson
Agriculture Department
Department
Agriculture
Orville L. Freeman
Federal
Treasury
Congress
U.S