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Farm price support plan faces House opposition
The Reagan administration backed by Senate Republicans presents a new farm bill compromise to House negotiators as the final offer. It lowers four year program costs to 11 billion, cuts dairy and grain supports, and reduces the sugar loan rate to 17 cents a pound to win House backing. Leaders remain divided with lawmakers warning they will oppose the plan if yields remain too low for farmers to participate. The proposal also tightens trigger levels, keeps the wheat loan at 3.55 per bushel, cuts corn by five cents, and widens discretionary access to a multimillion dollar farm emergency loan program.
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