Recently the United States Department of Agriculture released 10 year projections for how much taxpayers will be paying to support sugar policy. According to these projections, sugar policy is among the least expensive commodity policies in the Farm Bill. In the article excerpted below, the true costs to American taxpayers are set forth — USDA projecting costs at zero.
February 11, 2015
WASHINGTON—U.S. sugar policy is expected to cost taxpayers $0 from FY2015 to FY2025, according to projections released last week by the United States Department of Agriculture (USDA).
Sugar policy is the least expensive major commodity policy in the Farm Bill because farmers repay loans with interest instead of receiving subsidy checks. It ran at no cost to taxpayers from 2003 to 2012 and again in 2014.
There was a net cost of $259 million in 2013 when the USDA sugar pour 300x200pxhad to take emergency action to prevent the market from collapsing after Mexico dumped a record amount of subsidized sugar onto the U.S. market.
See full article at: www.farmandranchguide.com