Senate Budget Proposal Cuts USDA by $1 billion
But only over 10 years
Senator Lindsey Graham (R-S.C.) has released his $342 budget resolution and is not waiting for the House to release their budget. In this proposal, it indicates that USDA must cut at least $1 billion from their budget, however, this is for a period of 10 years or $100 million per year.
Since the 10-year budget for USDA is about $1.5 trillion this represents less than one-tenth of one percent of the overall budget. However, the minimum is $1 billion, perhaps they can find more than this amount.
There is currently an impasse between the Senate and House on getting any type of major bill done and likely any major tax reform will not occur until December of this year. We will be pleasantly surprised if it happens before then but are not counting on it.
We will keep you posted.