Tax Cuts May Lead to Farm Cuts

Opponents of the House tax-reform bill pointed to the impacts of the budget deficit that could require major cuts to farm programs under current law. Unless Congress takes other action, the increase in the deficit in the new tax bill would require 100% sequestration of many farm programs including Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) in January, the Congressional Budget Office said Tuesday in response to a request for analysis by House Minority Whip Steny Hoyer, D-Md.The Statutory-Pay-As-You-GO Act of 2010 "requires that new legislation enacted during a term of Congress does not collectively increase estimated deficits," CBO Director Keith Hall wrote in a letter to Hoyer that was also sent to House Ways and Means Committee Chairman Kevin Brady, R-Texas.