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AGRIBUSINESS: Administration Opposes House Ag Spending Measure

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The Office of Management and Budget has released the statement of Administration policy on H.R. 2410 - the ag spending measure for fiscal year 2014. The Administration is strongly opposed to the measure. According to the statement - the bill severely undermines key investments in financial oversight in a manner that would cripple Wall Street reform and impede implementation of statutorily-mandated financial regulations.

It also - the statement continues - imposes harmful cuts in rural economic development, renewable energy development, nutrition programs, food safety, agricultural research and international food aid. The statement notes investing in these areas is critical to the nation's economic growth, security and global competitiveness. As such - if the President were presented with the bill - his senior advisers would recommend he veto the bill.