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The proposed federal budget for 2013 will significantly reduce spending at the U.S. Department of Agriculture by about $32 billion over the next ten years, according to the Washington Post. The American Soybean Association has encouraged deficit reduction across all programs, including the elimination of the Average Crop Revenue Election Program and Direct and Counter - Cyclical Payments, but cautions that reducing support for crop insurance at this time is a risky move.
"However, with the enormous amount of risk farmers are about to undertake by planting a new soybean crop, now is exactly the wrong time to reduce support for the federal crop insurance program," ASA President Steve Wellman stated.
Eliminating direct payments to farmers is imperative, according to Agriculture Secretary Tom Vilsack, who said that "fiscal reality necessitates it," reports Bloomberg Businessweek.
In a move that would generate funds for the agriculture industry, President Obama's budget proposal includes federal money to research nutrition and the reduction of obesity. These inclusions are expected to bolster agriculture and food research by $325 million.
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