Provisions in the 2014 farm bill explained at meeting
Published 9:30 am Monday, March 24, 2014
VERSAILLES — With much of the details of the 2014 farm bill still being decided, agriculture experts helped sift through the pending changes for hundreds of local farmers who gathered at Versailles High School Thursday for a presentation titled, “2014 Farm Bill: How Does It Affect Me, The Farmer.”
The presentation was hosted by Ohio State Extension, Darke County; Farm Credit Mid America; Versailles Agricultural Education and FFA; and Ohio Country Journal/Ohio Ag Net. Jeff Wuebker, a Darke County Farmer and a member of the Ohio Livestock Coalition, served as the session’s moderator.
The panel of agricultural experts included Jon Coppess, University of Illinois Department of Agricultural and Consumer Economics’ clinical assistant professor of law and policy; Adam Sharp, Ohio Farm Bureau vice president of public policy; and Art Barnaby, Kansas State University Department of Agricultural Economics professor of policy and risk management.
The 2014 Farm Bill has eliminated crop subsides for corn, soy, cotton and other commodities. In their place, farmers now have the option to enroll in insurance programs to offset losses or low prices with federal subsidies to assist in the payment of those insurance premiums. Livestock farmers also will be able to obtain insurance against natural disaster and other calamities.
According to the USDA March 2014 release, the Direct and Counter-Cyclical program and the Average Crop Revenue Election (ACRE) program have been repealed and replaced with two new programs: Price Loss Coverage (PLC) and Agricultural Risk Coverage (ARC).
Coppess addressed the commodity title programs and focused the majority of his talk about the new Price Loss Coverage (PLC) program and the Agriculture Risk Coverage program. PLC and ARC replaced the Direct Payment and Average Crop Revenue Election program (ACRE).
The 2014 Farm Bil continues the marketing assistance loans with marketing loan gains and loan deficiency payments which were in the 2008 bill with the same rates except for cotton.
Coppess also addressed the new crop insurance product called Supplemental Coverage Option which can only be utilized by farmers who raise Price Loss Coverage commodities.
The Farm Bill also simplified and modified the Adjusted Gross Income. Producers whose average AGI exceeds $9000,000 are not eligible to receive payments or benefits from the majority of Farm Servcie Agencies and the Natural Resoucrces Conservation Service.