Overview
- The Food, Conservation, and Energy Act of 2008
(2008 Farm Act) builds on previous policy and provides
a new counter-cyclical revenue program and a permanent
disaster fund for farmers.
- Government payments provide
an important source of income to the farm sector, but
U.S. farm policy has undergone significant changes over
the last 15 to 20 years.
- Beginning with the 1985 Farm
Act and continuing with farm legislation in 1990 and 1996,
a series of fundamental changes in commodity and other
agricultural policies moved the sector toward market-oriented
decisions.
- Against a background of low commodity prices
that spurred enactment of five supplemental emergency
assistance packages, the new Farm Act adds income stabilization
provisions, among other new programs, to already existing
policies.
ERS evaluates the economic effects on producers,
consumers, taxpayers, and rural communities of current
farm legislation and alternative policy instruments and
programs.
Highlights
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