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ASA Applauds House and Senate Passage of 2008 Farm Bill May 15, 2008…Saint Louis, Missouri… After intense grassroots lobbying efforts by the American Soybean Association (ASA), state soybean associations, and many other organizations in the agriculture, nutrition, conservation, and energy industries, the "Food, Conservation, and Energy Act of 2008" passed both Houses of Congress this week and is headed to the White House. Congressional Agriculture Committee leaders stated that the bill will reach the White House by next Tuesday. Earlier in the week, President George W. Bush issued a statement indicating his intention to veto the new Farm Bill if it reached his desk. The vote in the House on Wednesday, May 14, was 318-106, a three-to-one ratio, and more than the two-thirds majority needed to override a veto. The Senate then voted 81-15 on Thursday, May 15, again, more than enough votes needed for an override. If the President follows through with his veto threat, both Houses of Congress plan to hold override votes before adjourning for the Memorial Day recess on May 30. "On behalf of all soybean farmers, I want to thank Congress for passage of the Farm Bill," said ASA President John Hoffman, a soybean farmer from Waterloo, Iowa. "While no group got everything they were seeking, ASA is pleased that the new Farm Bill includes key ASA priorities, including increasing the soybean target price to $6.00 per bushel, and authorizing a new Quality Incentive Program to promote production of soybeans with high-stability oil that can replace trans fats in food products." The new Farm Bill also includes the extension of the Commodity Credit Corporation (CCC) Bioenergy Program, which was another one of ASA’s top priorities. This program provides support to biodiesel and other advanced biofuels producers to make domestically-produced biodiesel and other advanced biofuels competitive with petroleum fuel and foreign imports of biofuels. Specifically, the program provides $300 million in mandatory funding for the program over four years. In addition, the legislation authorizes an additional $25 million in funding each year from FY 2009 through FY 2012, subject to Congress providing this additional funding during the course of the annual appropriations process. The reauthorization of the CCC Bioenergy Program will allow all gallons of biodiesel production to qualify for the program, which is a significant victory for the biodiesel industry that will make biodiesel producers more competitive. The Farm Bill also reauthorizes the Biodiesel Education Program at $5 million over five years, or $1 million per year. This program provides funding to support increased fuel quality measures, increase acceptance of biodiesel by engine and equipment manufacturers, petroleum partners, users and the general public. The legislation also includes ASA-supported provisions to reduce the acres of productive farmland currently idled in the Conservation Reserve Program by reducing the ceiling on the CRP to 32 million acres. This will allow land to return to production to help meet the world’s ever increasing demand for food, feed and fuel. "ASA extends special thanks to the leaders of the House and Senate Agriculture Committees, and to the leadership and the farm state members of the Finance, and Ways and Means committees," Hoffman said. ASA also thanks its state affiliates who have been contacting their Congressional delegations to vote ‘aye’ on this important legislation." ASA has been actively involved in organizing support for enactment of the new Farm Bill, and will continue to work to encourage a Congressional override of the President’s anticipated veto. ASA is the policy advocate and collective voice of its 22,000 producer-members on domestic and international issues of importance to all U.S. soybean farmers. --30-- For more information contact: |
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