CBO: Trade War to Slow Economic Growth

Dan Economy, Exports/Imports, Industry News Release, Trade

(NAFB) — The bipartisan Congressional Budget Office says the trade war will slow economic growth, adding more fears of a possible recession.The CBO says tariffs, which reduce U.S. gross domestic product through higher prices, reduces consumer purchasing power. The report predicts the economy will grow at 1.8 percent per year over the next decade, below historical average growth rates. Agriculture …

farm bill

Hoping for a Farm Bill This Week

Dan Farm Bill, Legislative

Farmers and ranchers have been waiting for the U.S. House and Senate to agree on the 2018 Farm Bill, thus giving them a five-year extension of federal farm programs. Last week, Ranking Democrat of the House Agriculture Committee, Collin Peterson of Minnesota, predicted the farm bill would be considered this week, with House consideration possible Wednesday the Senate on Thursday. The …


CBO Publishes Farm Bill Analysis

Dan Farm Bill, Industry News Release, Legislative

The Congressional Budget Office (CBO) says the House Agriculture Committee’s farm bill draft would reduce nutrition spending by $9.2 billion, offset by a $7.7 billion increase in spending on federal administrative costs. The CBO report on the legislation says changes to the Republican-supported bill that passed out of the House Agriculture Committee would reduce nutrition spending because some people would …