Chuck Grassley: “I rise today to commend many of my colleagues who were instrumental in the development of this legislation. The…”

“I rise today to commend many of my colleagues who were instrumental in the development of this legislation. The conference report before us today represents new opportunities for family farmers through a reformed crop insurance program and short term assistance in the form of an additional economic relief payment equivalent to the levels established last year. The conference report before us today provides Congress with an opportunity to assist farmers during this time of need. My friends and neighbors just came off a year in which they lost tremendous amounts of equity due to commodity prices hitting twenty year lows. If we would not have provided an economic relief payment last year we would have lost many more family farmers. What does a strong agricultural economy mean for my home state of Iowa? The agricultural industry contributes a total of around $70 billion and 446,000 jobs in Iowa. Therefore, when things are in bad shape down on the farm, all Iowans feel the negative economic effects. While commodity prices have improved slightly from last year, margins are still tight. We promised our constituents a smooth transition from the failed, government-dominated farm policies of the last 63 year period prior to 1996. We must follow through on that promise, and this legislation helps us fulfill that goal. This bill provides tremendous opportunities for farmers. The Crop Insurance title helps farmers utilize additional risk management activities.”