NCC Commends House Ag Committee's Farm Bill Work
National Cotton Council applauds inclusion of STAX proposal in farm bill planning from the House of Representatives.
July 17, 2012
The National Cotton Council (NCC) congratulated House Agriculture Committee Chairman Frank Lucas (R-OK) and Ranking Member Collin Peterson (D-MN) for their success in moving new farm legislation through the Committee with no significant changes and with a strong bipartisan vote (35-11) to recommend the legislation to the full House.
The NCC is especially grateful to the Committee for including the Stacked Income Protection Plan (STAX) with provisions consistent with the industry’s proposal and the new Supplemental Coverage Option (SCO) enhancement to crop insurance in the final package. The NCC also commended the Committee for not accepting any amendments to further restrict program eligibility, reduce payment limitations or impose limitations on marketing loan benefits.
NCC Chairman Chuck Coley said, “In an environment where a single piece of equipment costs in excess of $650,000 and where price volatility requires access to capital and risk management tools, our growers and their lenders need the certainty that they will be eligible for programs without regard to organizational structure or income.”
Coley also expressed appreciation to Committee leaders and members for addressing the interests of the entire cotton industry by including provisions to assist U.S. textile manufacturers, extending the marketing loan and adjusted world price redemption process, extending the Market Access Program and the Foreign Market Development Program that provide seed money for important promotion programs, and extending the extra-long staple program.
In underscoring the bill’s importance, the Georgia producer said, "Given the diversity of U.S. agriculture, we are pleased that the legislation reported by the Committee provides choices that offer a balanced safety net for all commodities and regions while facilitating market-driven cropping and marketing decisions."