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Iowa Ag Review

Abstract

Once again, Congress will provide U.S. farmers with emergency aid. On June 21, 2000, President Clinton signed a bill that authorizes $7.1 billion in farm assistance, most of which will be distributed according to existing payment formulas. The label emergency allows Congress to bypass its self-imposed budget restrictions on extra farm aid. In the Corn Belt this year’s emergency will be a big crop and low prices— and not, as previously feared, a small crop and high prices.