US House passes long-overdue farm bill
Published on Jan 30, 2014 1:12 AM
WASHINGTON (REUTERS) - The US House of Representatives passed a nearly $1 trillion (S$1.27 trillion) farm Bill on Wednesday that cuts food stamps and ends a direct subsidy to farmers, while expanding government-backed crop insurance programs.
The measure passed easily by 251 votes to 166. The Bill is more than a year overdue after congressional negotiators struggled to forge a compromise.
A vote in the Senate could come as early as next week and the Bill is expected to pass. The leaders of the House and Senate agriculture committees have said they expect President Barack Obama will sign the Bill.
The wide-ranging legislation affects about 16 million jobs in the country's agricultural sector and can have an impact on the business landscape for major agricultural companies.
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