§7313 Comprehensive Review of Past and Future of Production Agriculture

Summary

Require the Commission to do a detailed review of how U.S. farming has changed since April 4, 1996 and how much those changes come from this law and its amendments. The review must look at eight main areas: whether production flexibility contracts helped farms stay profitable; economic risks by farm size and region; food security (trade, consumer prices, U.S. farm competitiveness, supplies, and humanitarian aid); changes in land values and farm incomes since April 4, 1996; how much regulatory relief for farmers has been put in place and whether cost/benefit ideas were used; tax relief for farmers (including capital gains, estate tax, and ways to smooth taxes over good and bad years); effects of U.S. trade actions like embargoes and the success of trade agreements and export programs; and the likely effects of selling, leasing, or moving peanut poundage quotas across State lines. Require the Commission to also do a forward-looking review of the future of U.S. farming and the right role for the Federal Government. That review must update changes since the first review, say what the government’s relationship with farming should be after 2002, assess what staff and facilities the Department of Agriculture would need, and again look at economic risks by farm size and region. The Commission must write specific proposed laws to make the recommended future government role happen.