"The Farm Bill is crucial to the livelihoods and well-being of farmers, ranchers, and all of rural America," Daschle said. "This agreement is an example of what we can do in Congress when we focus on what is best for America and work together – House and Senate, Republican and Democrat."

"With the agreement today, completion of this conference report is in sight, and this sends the message to farmers and ranchers that they are a priority," Daschle said. "We now have the framework for a farm policy that is good for rural America. This bill will provide certainty for crop and livestock producers, an increased commitment to conservation, expanded nutrition, provisions making farmers and ranchers more competitive, and needed assistance for rural development."

"Farmers and ranchers in South Dakota and across America have been telling Washington that they need a new farm bill for years now. Farmers have already seen prices drop every single year since the current farm bill was approved," Daschle said. "They're getting roughly half of the prices they were receiving in 1996, and it will only get worse without this bill."

Effective safety net. Farmers have seen prices drop dramatically since the current farm bill was enacted. Net farm income has dropped by 25 percent since 1996. The U.S. Department of Agriculture has warned that farm income will drop another 20 percent this year unless a new Farm Bill is enacted into law.

The conference report provides enhanced counter-cyclical income protection which will provide more help in bad years and less help in good years when farmers do not need it. It provides for increased loan rates and updated bases and yields for the counter-cyclical programs and updated bases for the direct payments.

Conservation. The conference report makes conservation a centerpiece of farm policy for the first time and includes the most money for conservation in the history of the Farm Bill – an 80% increase. The conference report provides $17.1 billion for removing sensitive land from agricultural production and incentives for continuing and adopting new conservation practices on working lands.

Rural community economic revitalization. The farm economy provides more than $1.3 trillion to our economy and accounts for 24 million jobs. Rural America comprises 80 percent of our nation's land mass and 20 percent of our population. A recent study by the Bureau of Labor Statistics shows that farmers and ranchers are expected to lose 328,000 jobs over the next ten years - more than any other sector of the economy. Our nation cannot afford to leave rural America behind, and yet rural America is hurting like never before - in large part due to failure of our current farm policies. Economic revitalization is a key component to a vibrant rural America.

The conference report would provide rural communities with the equity, rural water and wastewater infrastructure, and technological tools, such as broadband access, to promote genuine rural revitalization. The conference report provides $1 billion to increase incomes, boost economic growth and create jobs.

Nutrition. The conference report would provide $6.4 billion over ten years for nutrition programs. It includes funding to extend transitional food stamps for families moving from welfare to work. In addition, the conference report would ease time limits for able-bodied adults without dependents and would restore Food Stamp Program benefits for all legal immigrants who have lived in the U.S. for at least five years.

Dairy. The dairy provision in the bill creates a national safety net for dairy producers that helps producers more in bad years and less in good ones. All dairy producers across the country will receive payments in months when the price of milk drops below $16.94 per hundred pounds.

Country of Origin Labeling. The country of origin labeling provision ensures that United States meat is labeled as such. Daschle said this provision is important for the competitiveness of U.S. livestock producers and consumers. Daschle noted that his colleague, Tim Johnson, deserves a great deal of credit for authoring this provision and for his diligent work in ensuring that it is part of the final bill.