From Senator Grassley's office:

For Immediate Release

Thursday, March 6, 2008
Grassley Payment Limits Amendment Clears Budget Committee

WASHINGTON – An amendment to allow a hard cap of $250,000 on the amount of farm payments an individual can receive passed the Senate Budget Committee today. Grassley introduced the amendment with Senator Wayne Allard of Colorado.

“The farm bills that passed the House and Senate have loopholes that make the farm payment system worse than what we operate under now. So, despite the fact that we’re in the middle of conference negotiations, I’m looking for ways to address the problems that weren’t taken care of,” Grassley said. “The majority of the Senate gave its support to payment limits during the farm bill, so it seems only right to keep pushing for passage.”

The amendment would save $641 million over five years and $1.401 billion over 10 years. The amendment also specifies that the savings be applied to nutrition.

Grassley has been the leading advocate to ensure that farm payments are directed to small and medium sized farmers to help them get through the lean years. During the farm bill debate in December, Grassley's payment limits amendment was required to reach a 60 vote threshold for passage. The amendment received 56, and did not pass. Only an adjusted gross income cap for farm payments was included in the Senate farm bill that is currently in conference committee between the House and the Senate.