US President George W. Bush on Wednesday vetoed a massive farm bill he said was bloated with "earmarks and other ill-considered provisions" despite a likely veto override by Congress.
"I have consistently asked that the Congress pass a good farm bill that I can sign. Regrettably, the Congress has failed to do so," Bush, who had been expected to veto the 290-billion-dollar legislation, said in a statement.
"At a time of high food prices and record farm income, this bill lacks program reform and fiscal discipline. It continues subsidies for the wealthy and increases farm bill spending by more than 20 billion dollars, while using budget gimmicks to hide much of the increase," he said.
"This legislation is also filled with earmarks and other ill-considered provisions," he said, noting a 175-million-dollar earmark to address water issues for desert lakes and funding for a non-competitive sale of National Forest land to a ski resort in Vermont state.
Bush noted that with commodity prices at record highs, "it is irresponsible to increase government subsidy rates for 15 crops, subsidize additional crops, and provide payments that further distort markets."
He also pointed to a provision which would allow farmers to earn up to 1.5 million dollars per family before direct farm subsidy payments are cut off.
The president called on Congress to instead extend present legislation until a new bill can be drafted and approved.
The Food, Conservation, and Energy Act of 2008 hit the president's desk last week with a veto-proof majority after senators passed the bill by 81 votes to 15, and a veto-proof two-thirds majority in the House of Representatives.
The bill includes an eight billion dollar expansion of the food stamp program which helps needy people get more nutrition into their diets.
It also carries provisions to expand biofuels research and development programs, provides disaster assistance aid, and improves shipment of meat which has undergone safety inspections.
Copyright 2008, by
AFP
. All rights reserved
Alitalia govt loan to be counted as capital:...
Fed cuts US growth projections; signals rate cut... 