Since 2003, direct payments have accounted for a significant portion of farm program payments.

If direct payments were eliminated, many agricultural producers would be affected, both through the loss of income and potential declines in land values and rental rates. This report considers the potential contribution of direct payments to farm revenues and land values across farm commodities and regions and estimates the magnitude of the financial impact on participating farms should direct payments be eliminated.

To continue reading, see http://www.ers.usda.gov/publications/eib-economic-information-bulletin/eib103.aspx.