Max Baucus: “I agree with my good friend, the majority leader, that this farm bill is a reform bill. And I would like to answer your…”

“I agree with my good friend, the majority leader, that this farm bill is a reform bill. And I would like to answer your questions about how it addresses--or struggles to address--multi-year price declines. I worked very closely with Chairwoman Stabenow, through the Senate Agriculture Committee markup this spring, along with my colleagues, Senators Conrad and Hoeven, to ensure the Agricultural Risk Coverage program worked for farmers in the Northern Great Plaines--not just the Midwest. I commend the Chairwoman for working with me through that markup, and supporting my amendment which improved the farm level coverage option and her commitment for continued work to improve the bill for grain farmers in my home State of Montana. One of the lingering questions is what happens to the Agricultural Risk Coverage program should we have a few years of consecutive price collapses in the market. I agree that the Agricultural Risk Program should follow market signals, and I commend this bill for doing just that. But when the market fails, there has to be a failsafe to prevent our farm policy from driving off a cliff--taking jobs and food security with it. So although the bill is a step forward in creating a market-oriented safety net, it does not provide optimal protection for multi-year price declines. I filed an amendment which would have added price protection should we have multi-year price declines while ensuring it does not distort the marketplace.…”