Georgia lawmakers are pushing back against a proposal in President Barack Obama’s budget that ends compensation to cotton and peanut farmers for storage costs when they hold back on selling crops until they can net better market rates.
“The credits allow producers to store their cotton and peanuts at the government’s cost until prices rise. Therefore, storage credits have a negative impact on the amount of commodities on the market,” said a White House Office of Management and Budget analysis released earlier this month.
“Because storage is covered by the government, producers may store their commodities for longer than necessary,” according to the analysis. “There is no reason the government should be paying for the storage of cotton or peanuts, particularly since it does not provide this assistance for other commodities.”
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Lawmakers fight to keep cotton, peanut storage subsidies for Georgia farmers - Business - Ledger-Enquirer.com
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