January 29, 2014
USDA's Farm Service Agency Friday reminded farmers who participate in FSA programs to "plan accordingly" for sequester cuts projected under the Budget Control Act of 2011.
The BCA mandates that federal agencies implement automatic, annual reductions to discretionary and mandatory spending limits. For mandatory programs, the sequestration rate for FY2014 is 7.2%. Accordingly, FSA is implementing sequestration for the following programs:
FSA says farmers should 'plan accordingly' for cuts expected in FY 2014.
•Dairy Indemnity Payment Program;
•Marketing Assistance Loans;
•Loan Deficiency Payments;
•Noninsured Crop Disaster Assistance Program;
•Tobacco Transition Payment Program;
•2013 Direct and Counter-Cyclical Payments;
•2013 Average Crop Revenue Election Program;
•2011 and 2012 Supplemental Revenue Assistance Program;
•Storage, handling; and
•Economic Adjustment Assistance for Upland Cotton.
Related: Find Your Local FSA By State
Conservation Reserve Program payments are specifically exempt by statute from sequestration, thus these payments will not be reduced.
"These sequester percentages reflect current law estimates; however with the continuing budget uncertainty, Congress still may adjust the exact percentage reduction," said FSA Administrator Juan M. Garcia.
"At this time, FSA is required to implement the sequester reductions. Due to the expiration of the Farm Bill on Sept. 30, FSA does not have the flexibility to cover these payment reductions in the same manner as in FY13. FSA will provide notification as early as practicable on the specific payment reductions," he said.
You May Also Like
Current Conditions for
Enter a zip code to see the weather conditions for a different location.
Purdue soybean trials show sulfur paybackDec 04, 2023
IFB presidential race reflects change and conflictDec 05, 2023
2023 lessons: Managing farm profitDec 05, 2023
Calif. imposes 7 fruit fly quarantinesDec 03, 2023
Western govs: Don’t change grazing policiesDec 03, 2023
Choose the right partner for your farm businessDec 05, 2023
Soybean processor brings economic power to North DakotaDec 05, 2023