Web exclusive posted May 14, 2008 at 4:32 p.m. CST

The U.S. House of Representatives passed the 2008 farm bill this afternoon by an overwhelming vote of 318 to 106. Victory may be short-lived however, as President Bush vowed yesterday to veto the bill if it reaches his desk.

"Today's farm economy is very strong and that is something to celebrate," Bush said. "It is also an appropriate time to better target subsidies and put forth real reform. Farm income is expected to exceed the 10-year average by 50 percent this year, yet Congress' bill asks American taxpayers to subsidize the incomes of married farmers who earn $1.5 million per year. I believe doing so at a time of record farm income is irresponsible and jeopardizes America's support for necessary farm programs."

Bush continued to urge members of Congress to extend the current farm bill for one full year rather than to pass a bill that "increases farm subsidy rates, spends too much and fails to reform farm programs for the future."

Congress finally agreed on a farm bill after five short-term extensions and much debate about subsidy payments, increased disaster aid, conservation program compensation and nutrition aid. The bill also urges the government to buy surplus sugar and sell it to ethanol producers for use in a mixture with corn, cuts a per-gallon ethanol tax credit for refiners from 51 cents to 45 cent. The credit supports blending fuel with the corn-based additive. As well, additional money would be put towards cellulosic ethanol.
The agreed-upon $600 billion legislation is $10 billion over budget. Bush said the actual number is closer to $20 billion when actual government spending is taken into consideration. "My administration clearly identified numerous reforms as essential to justify even a $10 billion increase in spending, yet this bill includes none of those reforms in full," he said.

The bill will now move to the U.S. Senate, where a vote is expected Thursday morning.

Chairman of the Senate Committee on Agriculture, Nutrition and Forestry, Senator Tom Harkin, D-Iowa, said Congress has fulfilled its part in putting forth a farm bill that serves the American people. "Like any compromise bill resulting from hard bargaining among regional and other interests, this farm bill is far from perfect," he said. "But no piece of legislation is. It includes significant reforms, as well as major advances. It deserves the president's signature. Inexplicably, the White House seems intent on destroying the harvest just as the seeds are being planted."

If Bush vetoes the bill as promised, it will be returned to Congress for modifications. Congress can override Bush's veto with a two-thirds majority vote. The "yay" House votes today were already 28 more votes than needed to override the veto.