Farmers would have a 90 percent crop-revenue guarantee under a farm bill proposal by Senate Budget Chairman Kent Conrad, D-N.D. It would replace the Average Crop Revenue Election program and direct payments. It essentially builds on the “shallow loss” program developed by Sens.
Sherrod Brown, D-Ohio, John Thune, R-S.D., and others we reported on last fall. The program would include a payment limitation of $105,000 for all commodity program payments and an adjusted gross income limit of $999,000.