National & World Ag News Headlines Bush Calls for One Year Extension of Farm Bill USAgNet - 05/14/2008 President Bush called on Congress on Tuesday to extend the 2002 Farm Bill for at least one year so producers can make sound business and planting decisions. Bush passed a short-term extension of the farm bill last Friday, but only four days remain until that extension runs out. "Despite the passage of more than a year since my Administration unveiled a responsible and forward-looking farm bill proposal, there are no signs that the conference committee will reach agreement on an acceptable farm bill by Friday," he said. In a statement, he said the farm bill proposal currently being discussed by conferees would fail several important tests that he had set forth including his call for reform and that it not raise taxes. "With record farm income, now is not the time for Congress to ask other sectors of the economy to pay higher taxes in order to increase the size of government. The proposal would increase spending by at least $16 billion, masked in part by budgetary gimmicks and funded in part by additional tax revenues. These tax revenue provisions are unacceptable - including tax compliance initiatives being considered by the House and Senate Conference Committee. As important, the proposal also lacks the important reforms I've repeatedly called for," he said. Last week, Congress approved a compromise to the latest House and Senate version of the 2007 Farm Bill. But Bush said he would veto the measure because of its total price. Copyright © 2010 - USAgNet.com. All Rights Reserved.