The 2014 Farm Bill (which was signed into law in February) can be a mess to understand. From food stamps to farm subsidies, the bill helps to shape the way America grows, processes and consumes foods. This video gives an introduction to the Farm Bill. It can be interesting to find out the mechanisms involved in such a massive bill (nearly $1 trillion). This is a relatively unbiased view of the bill and the market incentives that drive it. In particular it discusses the new crop insurance program and the decisions producers will face in the coming year. Before we take a serious look into the farm bill it is important to read some of the fine print. Professor Jonathan Coppess, specialist in Farm Policy at the University of Illinois, has a great interview that discusses the impacts of the bill for farmers over the next few years. Hope that this gives a little insight as we begin a discussion on the Farm Bill.
Thanks, Jared, for sharing this video. My IPE 201 students are learning about trade and the repercussions of the farm bill in the cotton industry, especially regarding the subsidies we were paying Brazilian farmers to drop their complaint at the WTO. (Without telling Brazil, we stopped paying in October 2013.) I can share the farmers’ side with them now.