H.R. 2879, The Wheat Counter-Cyclical Payments Enhancement Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

Version saved on July 6, 2007, 18:20:02, by webmaster:

H.R. 2879 would amend the Farm Security and Rural Investment Act of 2002 to authorize the Secretary of Agriculture to consider variations in the national average market price for different classes of wheat when determining the eligibility of wheat producers for counter-cyclical payments for the 2007 crop year.

Detailed Summary

Wheat Counter-Cyclical Payments Enhancement Act - Amends the Farm Security and Rural Investment Act of 2002 to authorize the Secretary of Agriculture to consider national average market price variations for different classes of wheat when determining wheat producer eligibility for 2007 counter-cyclical payments.

States that in calculating a separate effective price for a class of wheat the effective price shall equal the sum of: (1) the higher of the national average market price received by producers during the 12-month marketing year, or the national average loan rate during that period; and (2) the direct wheat payment rate.

Status of the Legislation

Latest Major Action: 6/27/2007: Referred to House committee. Status: Referred to the House Committee on Agriculture.

Points in Favor

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Points Against

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