The 2014 Farm Bill has something for every New Mexican who makes a living by farming or ranching. The bill, which became law in February, affects Department of Agriculture programs until fiscal year 2018.
Most significantly, the bill replaces direct and countercyclical payments to farmers with expanded crop insurance offerings.
The discontinued program subsidized farmers based on historical acreage and yields rather than actual yield, while countercyclical payments compensated farmers when crop prices fell. Continue reading