Statement of Senator Russ Feingold

On the Farm Bill MILC Provision

May 5, 2008

Washington, D.C. – Today, Senator Russ Feingold issued the following statement on the Milk Income Loss Contract (MILC) program provision included in the Farm Bill conference agreement.  While the Farm Bill Conference Report has yet to be finalized, the MILC provision has been completed.

“While I want to review the full details of the Farm Bill conference agreement before deciding whether to support the overall package, I strongly support the final MILC provision included in the bill.  Throughout the Farm Bill process, I have worked hard to restore the integrity of the Milk Income Loss Contract (MILC) program.  Unfortunately the effectiveness of the program has been undermined by both a reduced reimbursement rate and skyrocketing costs of production.  The Senate Farm Bill appropriately restored the MILC program’s 45 percent reimbursement rate, while keeping the program targeted toward small and medium farmers.  The conference agreement has gone a step further by retaining the Senate provision and also including a feed cost adjuster to ensure a robust safety net despite the vagaries of the grain and forage markets.  While I await the full details of the final Farm Bill, I am pleased the MILC provision will help ensure thousands of family farmers in Wisconsin will remain competitive as they face a changing economy.”