EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503
STATEMENT OF ADMINISTRATION POLICY
(THIS STATEMENT HAS BEEN COORDINATED BY OMB WITH THE CONCERNED AGENCIES.)
August 3, 1998
S. 2344 - Emergency Farm Financial Relief Act
(Sen. Coverdell (R) and 14 cosponsors)
The Administration supports House passage of S. 2344 in order to accelerate the 1999 Agricultural Market Transition Act payments to producers.
The Administration regrets that the Senate did not include the provision of the Senate-passed FY 1999 Agricultural/Rural Development appropriations bill that would provide $500 million for new emergency funding for farmers and ranchers who face financial stress as a result of natural disasters and low prices. Nor does the House make in order such an amendment. The Administration urges the Congress to enact this provision as soon as possible. In the interim, the Department of Agriculture is continuing to assess the actual emergency needs of farmers and ranchers and will report to Congress in the near future.
S. 2344 would affect direct spending; therefore, it is subject to the pay-as-you-go requirements of the Omnibus Budget Reconciliation Act of 1990. OMB's preliminary scoring estimate is that the net budget cost of this bill is zero.