Corn Exports Add $74 Billion to Economy

US corn and corn product exports generated $74.7 billion in economic output in 2014. According to a study by Informa Economics, sales of all US feed grain products added $82 billion to the economy. The analysis says corn and corn product exports added 29.8 billion dollars to the GDP over what would have happened without those exports. The number of full-time jobs linked to those exports, either directly or indirectly, numbered over 330,000. The study also found that for every $1 of grain exports, it adds $3.23 in business sales across the US. The same study also found that if these exports were halted, over 47,000 jobs would be lost and $2.8 billion in GDP would be lost in the farming, ethanol production, and meat production industries alone. NCGA President Chip Bowling said the report underscores the need to approve the TPP, which would give farmers more access to the Asia/Pacific region.

House Committee Marks Up FY2017 Spending Bill

NCBA President Tracy Brunner said the spending bill marked up by the House Interior Appropriations Subcommittee has a number of good things for cattle producers. Specifically, this bill would defund the Environmental Protection Agency’s “Waters of the US” final rule. By defunding it, Congress will prevent members and taxpayers from expending more resources on future court battles. The bill also clarifies agricultural exemptions in the Section 404 process and continues defunding of new regulations under the Clean Air Act and Greenhouse Gas reporting for manure management systems. The Public Lands Council was pleased the bill would block the President’s administrative fee which would be on top of a grazing fee already raised by 25 percent earlier this year.

Source:  NAFB News

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