Kankakee Valley Post, Volume 19, Number 19, DeMotte, Jasper County, 8 April 1949 — House Makes Few Slashes in Farm Funds [ARTICLE]

House Makes Few Slashes in Farm Funds

Appropriations Group Reduces Administration's Request By 4 Per Cent Washington, April 5. President Truman’s request for funds to finance the administration’s farm program for the 1950 fiscal year emerged virtually unscathed today from the House Appropriations committee. The committee voted $7Ol million 122 thousand for the new fiscal year beginning July 1, a cut of only $25 million 748 thousand, 1 less than 4 per cent, below the $726 million 920 thousands requested by the administration. Authorize Borrowing Furthermore, the committee authorized the rural electrification administration to borrow from the Treasury up to SSOO million for expansion of its facilities in place of the $350 million requested. In addition to the new cash provided by the committee, the Agriculture department will also have at its disposal for the coming year $139 million in permanent appropriations on which annual action by Congress is not-re-quired. The department of agriculture will thus have available for expenditure during the coming year approximatey SB4O million in new funds, plus funds previously appropriated but not* yet expended. S4OO Million Cut The small cut in the agriculture department’s budget brought to approximately S4OO million the

amount slashed so far from thei president's record peacetime bud-1 get of $42 billion. The committee j has now acted on six of the nine] annual supply bills. In addition to the SSOO million authorized for REA loans, the committee also authorized these loans to farmers: sls million for farm tenants; SBS million for production and subsistence (a $lO million increase over the budget): and $1 million 750 thousands for water facilities. The commission urged Congress and the administration not to engage in any crop restrictions programs.