Tom Harkin: “I heard some talk around here that some on the other side of the aisle are talking about coming up with a new program…”

“I heard some talk around here that some on the other side of the aisle are talking about coming up with a new program called lost market compensation payments, or something like that. So, as I understand it, it would just be a set rate of payments. They are going to come up with money and give it out to farmers like another AMTA payment. So what is the difference between that and taking the caps off the loan rates? A big difference. Keep in mind, if we have a direct payment, if you just give the money out to farmers this fall, and if the prices go up next year--which we all hope they do--the Government is out that money. If we have an increased loan rate and farmers can take that loan and pay their bills, and if the prices go up next year over 15 months--because that is what we put in the legislation, a 15-month loan--if, over the next 15 months, the prices go up, farmers can sell their grain, pay the loan back to the Government with interest, and, therefore, the Government would not necessarily be out all that money.”