Wednesday, May 21, 2008

Bush Vetoes Farm Bill - House Overides

Its official - President Bush has vetoed the farm bill today as he said he would for months and the House has already overridden the veto:

"At a time when net farm income is projected to increase by more than $28 billion in one year, the American taxpayer should not be forced to subsidize that group of farmers who have adjusted gross incomes of up to $1.5 million," Bush said in his veto message. "When commodity prices are at record highs, it is irresponsible to increase government subsidy rates for 15 crops, subsidize additional crops and provide payments that further distort markets."

But many in Congress didn't agree:

Rep. Collin Peterson (D-Minn.), one of the bill's architects, told the House, "We think we have a bill that is responsible, that is paid for without tax increases, that puts the priority where it needs to be in this country."

The main complaint were farm payments going to the "rich":

"This bill is billions of dollars of farm subsidies to millionaires," said Rep. Paul Ryan (R-Wis.). "This is corporate welfare. This bill is going to help corporate agriculture and not family farmers."

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