Farm bill proposal looks to save $23 billion in spending

The American Farm Bureau Federation recently released its proposal for the stalled Farm Bill. The plan, which looks to save $23 billion in farm program spending, would create a new safety net for U.S. farmers. Under the new proposal, producers would be able to choose between a Stacked Income Protection Plan (STAX) program and an updated target price program.

All program crop producers would have marketing loan programs and crop insurance available to them as well.

STAX would allow farmers to add-on yield or revenue coverage to the crop insurance coverage they already have in place. This p...