WASHINGTON, April 23 – The Congressional Budget Office (CBO) estimates that enacting the Senate Agriculture Committee’s draft farm bill legislation would reduce direct federal spending by $26.4 billion over the 2013-2022 period, compared to the current baseline. That’s $3.4 billion more in savings than the committee had originally targeted.
The CBO reported their assessment in a letter to Chairwoman Debbie Stabenow, D-Mich, and Ranking Member Pat Roberts, R-Kansas, late today.
The biggest savings, $19.5 billion, come from the commodity title, followed by $6.4 billion from conservation, $4.3 billion from the nutrition title and $466 million from the miscellaneous title.
Outlays for the crop insurance title, which also includes new risk management programs for cotton and peanuts, increased by $3.2 billion, as did spending on research and extension at $646 million and the horticulture title at $359 million.
To read the CBO letter and analysis
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