Local Sugarcane Farmer Explains Farm Bill Failure’s Impact
Local sugarcane farmer Chad Hanks visited 'Mornings With Ken and Bernie' today to explain the Farm Bill and the ramifications of it's failure to pass in the US House of Representatives. When asked how the failure would affect sugarcane farmers Hanks responded,
What we rely on in Farm Bill legislation is a long term commitment where we can be working with our bankers...We were satisfied with the legislation that came out of the Senate side and what was introduced on the House floor was very acceptable to not only the sugar industry but all of Louisiana AG. it was very disappointing to not see that bill pass through the House.
Hanks explained the need for a five year Farm Bill in this manner.
From a financial standpoint, the amount of investment that we make year-by-year our vision is not year-by-year it's five years down the road. We need security to know how our programs will function not only for our business decisions but to work with the finance industry and banks and have them feel secure knowing the program will be secure for a number of years.
When asked if sugarcane farmers receive direct payments from the Federal Government under the Farm Bill Hanks said,
Sugar farmers receive no direct payments. We are not subsided. We are in a situation where we're competing against international producers that are heavily subsidized...We are a zero cost program to the government
Listen to the interview: