Recession and Farm Bill Pt 2
From the Ag Information Network, I’m Bob Larson. So, while the predicted recession has yet to rear its ugly head, another major concern remains for those in agriculture, the farm bill.
But RaboBank strategist, Steve Nicholson says our economic worries AND the fact this is an election year … just heap on the challenges …
NICHOLSON … “Well, I hope they don’t put it off for another year, let’s say that. You know, the challenges, you’ve got two challenges there, one you have a Congress that’s not focused on anything, and a Congress that’s not functioning very well.”
Nicholson says funding USDA needs won’t be easy …
NICHOLSON … “You know, they’ve got budget deadlines that are coming up and USDA is on that first list of agencies that would get shut down. So that’s not a good thing. And, oh yeah, it’s an election year for them and I think it’s, it’s a coin toss that we could get it.”
But Nicholson says there are some incentives …
NICHOLSON … “Keep in mind, in the politics of it, Senator Stabenow from Michigan is retiring. She is the chairman of the Senate Ag Committee, and she would love to be able to send one of her legacies out the door, is to get the farm bill over the line. So, there are political pressures on both sides of that issue.”
But it needs to happen soon, doesn’t it? …
NICHOLSON … “Yeah, that would be my concern too. I’ll be a little more optimistic for the first half of the year.
I think it’ll be really difficult to get it done, certainly, the second half of the year.”
That’s Steve Nicholson, strategist at RaboBank.
