President Obama Signs Farm Bill
Monday, February 10th, 2014 -- 8:18 AM
-President Barack Obama signed into law a farm bill he says will ensure children don't go hungry.The bill will spread benefits to farmers in every region of the country while trimming the food stamp program; the cuts inspired a two-year battle over the legislation.
The bill provides a financial cushion for farmers who face unpredictable weather and market conditions . It also provides subsidies for rural communities and environmentally-sensitive land. Recipients include Southern peanut growers, Midwest corn farmers and the maple syrup industry in the Northeast.
The bulk of its $100 billion per year cost is for the food stamp program that aids 1 in 7 Americans. However, the overall cost of the program will be cut by $800 million a year, or around 1 percent. That's a compromise. House Republicans pushed through a bill in September that would have made a cut to food stamps that was five times more than the eventual cut.
Obama says it still protects vulnerable Americans.
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