US president Bush vetoes Farm Bill
US president Bush yesterday vetoed the $300 bln Farm Bill, saying that it is a tax increase when high food prices are high.
Bush’s veto may not have much impact as it is likely to be overridden. It passed the House of Representatives as well as the Senate with veto-proof majorities.
A White House spokesman said that president Bush rejected it because it increases federal spending. About 2/3 of the bill would pay for nutrition programmes such as food stamps and emergency food aid for the needy.
An additional $40 bln is for farm subsidies while almost $30 bln would go to farmers to idle their land and to other environmental programmes.