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House Ag GOP farm bill boosts reference prices sharply, but leaves funding gap

Monday, May 20, 2024 • 2 PM

Republicans on the House Agriculture Committee are proposing to spend more than $50 billion to shore up commodity programs and crop insurance, including a reference price increase of nearly 20% for soybean producers. But Republicans are relying on help from the chairman of the House Budget Committee in covering the cost of the increased subsidies, according to committee aides.

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