In mid-April the U.S. House of Representatives adopted a budget resolution (235-193) for fiscal year 2012. It estimated that the 2012 Budget proposes $178 billion in agriculture program cuts over the next 10 years. While the Budget Committee made it known that the Agriculture Committee will choose what programs to cut, they did suggest:
- $127 billion in cuts to the food stamp programs,
- about $30 billion in cuts to commodity programs,
- about $20 billion in cuts to other programs, and
- specifically mention conservation programs.
In the U.S. Senate, Senate Budget Committee Chairman Kent Conrad (D-ND) has unveiled a tentative draft that would cut the federal deficit by about $4 trillion over a decade.
Conrad’s draft proposal raises taxes by about $2 trillion and cuts spending by $1.5 trillion. Additional savings of about $600 billion would come from reduced interest payments. Savings of about $900 billion are achieved from defense programs and $300 billion in savings are proposed from non-security spending over a decade. It would also secure about $300 billion in entitlement savings over the decade.