Purdue University economists say they expect Congress to pass another extension of the farm bill after a five-year version failed to pass last week.
The proposed farm bill reduced funding for food stamps and changed farm subsidies from direct payments to support for crop insurance but it failed in the House.
Congress already passed a farm bill extension once last year. And Purdue Agriculture Economist Chris Hurt says another extension wouldn’t be the worst case scenario.
“Most producers would feel positive about that agriculture farmers, not all the groups, but many would feel positive about that, they certainly would willing to talk about reform, and talk about some changes particularly in that direct payments.” Hurt says.
But, Indiana Farm Bureau spokesperson Megan Ritter says last year’s drought reminded farmers the federal insurance system needs a facelift.
“I think our hope is that there is general interest in passing a five year farm bill that farmers need, that will be reassurance and certainty that there is a safety net there and what a safety net looks like, ” Ritter says, “it’s really challenging to plan from year to year when we don’t what exactly what is going to be in that safety net. ”
The bill is set to expire at the end of September.