WASHINGTON – During debate this afternoon on the 2012 farm bill, senators voted 75 to 24 for Senator Chuck Grassley's amendment to cap marketing loan gains (amendment #2167).
"We should have caps on Title I commodity programs, and this amendment sets hard cap of $75,000 on marketing loan gains," Grassley said. "The reform will help to bring about more defensibility for the farm program, along with the other reforms I worked to get in the legislation during committee consideration."
Grassley is a longtime advocate of limits on farm program payments to keep the program focused on small and mid-sized farmers.
The text of the amendment is here.