Senate Budget Resolution Approved

The U.S. Senate has passed its 2010 budget resolution which will reduce the federal deficit by two-thirds in five years. Senate leaders say it would also reduce the government’s debt to less than three percent of the gross domestic product. The resolution supports the President’s priorities while cutting 2.4 billion over ten years from the President’s budget.

Senator Chuck Grassley offered an amendment that would provide for a payment cap of farm programs. The amendment failed. But, a Kent Conrad amendment did pass that would save 70-million dollars per year through negotiating for better deals with insurance companies for the federal crop insurance program.

Much of what is in the bill came out of agreements made between key Senators and President Obama during a Thursday Capitol Hill luncheon. Kent Conrad told Agri-Plus the Senate’s budget provides – maximum flexibility to the committees to legislate so they can write climate change. And it adhears to the President’s wishes on climate change, health care, energy and education. But all must be paid for through offsets.