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Congress backs Bentsen request to keep cotton loan rate
The Senate unanimously approved an amendment co sponsored by Lloyd Bentsen and John Tower to preserve the loan rate for West Texas short staple cotton. The change rejects a committee plan to require the Agriculture Secretary to compute discounts on a 1 1 ratio for low micronaire cotton, arguing the move would cut loan values by 30 to 50 million dollars annually while not saving the Treasury. Bentsen cites regional impact on High Plains growers and notes previous reversals of low micronaire policy.
MENTIONED IN THIS ARTICLE
Congress
Bentsen
Senate
Lloyd Bentsen
Senate Agriculture Committee
West
Texas
John Tower
Secretary of Agriculture
West Texas
U.S Treasury
Plains
U.S. Department of Agriculture
High Plains
USDA
U.S