World Perspectives

Paying the Bill for the Farm Bill

The final conference report farm bill, which is now on the president’s desk awaiting signature, totals $428 billion for its 2019-2023 authorization period; most references in the media to a $867 billion cost are based on a 10-year baseline for the five-year bill. Because of the Balanced Budget and Emergency Deficit Control Act of 1985 (better known as the Gramm-Rudman-Hollings Act or GRH), the Congressional Budget Office (CBO) is required to provide a 10-year budget estimate for legislation and assume that the changes made to statutory programs would continue for that period (even though the authorization is only five years). Compared to the original House bill drafted in April, the final conference report adds $1.8 billion in direct...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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