Statement
of Senator Russ Feingold
On the Farm Bill MILC Provision
May 5, 2008
Washington, D.C. –
Today, Senator Russ Feingold issued the following statement on the Milk
Income Loss Contract (MILC) program provision included in the Farm Bill
conference agreement. While the Farm Bill Conference Report has yet
to be finalized, the MILC provision has been completed.
“While I want to review
the full details of the Farm Bill conference agreement before deciding
whether to support the overall package, I strongly support the final
MILC provision included in the bill. Throughout the Farm Bill process,
I have worked hard to restore the integrity of the Milk Income Loss
Contract (MILC) program. Unfortunately the effectiveness of the program
has been undermined by both a reduced reimbursement rate and skyrocketing
costs of production. The Senate Farm Bill appropriately restored the
MILC program’s 45 percent reimbursement rate, while keeping the
program targeted toward small and medium farmers. The conference agreement
has gone a step further by retaining the Senate provision and also including
a feed cost adjuster to ensure a robust safety net despite the vagaries
of the grain and forage markets. While I await the full details of the
final Farm Bill, I am pleased the MILC provision will help ensure thousands
of family farmers in Wisconsin will remain competitive as they face
a changing economy.”
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