The agriculture sector is in for a possibly long and difficult recovery from low commodity prices—no time for bad policy decisions in Washington that’s already blamed for several. Iowa Senator, Chuck Grassley, says one thing that’s unlikely to happen now that the elections are behind us, is opening of the Farm Bill.
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However, payments will automatically increase as prices fall below market level triggers under the current Farm Bill. And then there are non-Farm Bill issues as well.
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EPA Waters Jurisdiction and the Renewable Fuels Standard are also on the radar again, as is presidential trade deal authority. Grassley adds that GMO labeling could become an issue with states already considering labeling referenda, and says he’ll back a legislative effort to prevent state laws against those labeling efforts.