Economic Message of the Week: Study: Billions for Farmers in Energy Bill
Climate and energy legislation, passed recently by the Senate Environment and Public Works Committee and now up for broader deliberation, could benefit most major American crops and generate up to $13 billion in profits for the agriculture industry, according to a new report.
"Agriculture comes out a winner, environmentally and economically, in this scenario," said Roger Johnson, president of the National Farmers Union, which supported June's House-passed American Clean Energy and Security Act.
The study, which was published by the University of Tennessee, mirrors economic analyses surrounding the House bill and predicts farm incomes in most U.S. regions rising above baseline trends projected by the Agriculture Department.
Chairwoman Barbara Boxer (D-Calif.) and nine others signed off on the Clean Energy Jobs and American Power Act early this month, passing the bill out of committee and continuing the momentum toward passage of comprehensive clean energy legislation in the Senate.