Dale Bumpers: “the reason I strongly favor this substitute is because it salvages rice markets. Under the freedom-to-farm bill…”

“the reason I strongly favor this substitute is because it salvages rice markets. Under the freedom-to-farm bill, payments start out big, peak in the third year, and they go down after that. Right now, cotton, wheat, and corn, three of the big program crops in this country, are all bringing more than the target price, which means under existing law those programs would not cost us anything if those prices hold up through the rest of the year. That is not true of rice. And I am not optimistic that rice will achieve anything like, say, $9.50 to $10 a hundredweight any time in the foreseeable future. And so what is going to happen under the freedom-to-farm act? Rice farmers are going to be producing rice for about $3 a bushel, if current prices stay up, $3.50, and they cannot do it. They cannot stay in business. So everybody is being lured with this siren song about how much money we are going to pay you on the front end, and then it is over. Now, the Democratic alternative program at least is a 3-year program, provides for a 40-percent advance, and will at least give rice farmers a chance to produce and stay in business. Under the freedom-to-farm bill, they will stay in business the first 3 or 4 years--unless public clamour forces the entire program to a quick termination, but after that they are going to start dropping like flies. I am not absolutely rhapsodic about this substitute. I do not have any delusions about it passing.”