[Congressional Record Volume 142, Number 26 (Thursday, February 29, 1996)]
[Extensions of Remarks]
[Page E262]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   AGRICULTURAL MARKET TRANSITION ACT

                                 ______


                               speech of

                         HON. DAVID FUNDERBURK

                           of north carolina

                    in the house of representatives

                      Wednesday, February 28, 1996

  Mr. FUNDERBURK. Mr. Speaker, once again North Carolina's version of 
the Washington Post, the Raleigh News & Observer has it wrong. In a 
recent editorial they called for the end of an important program for 
hard-working farmers of eastern North Carolina. They endorsed the 
elimination of the peanut program and they give as the reason the 
supposed increased benefit to the consumer. This could not be further 
from the truth. Peanuts and peanut products sell for more in Canada and 
Europe than in the United States. This is true even though those 
manufacturers purchase peanuts on the world market. Peanut farmers will 
suffer substantially if the proposal to eliminate the peanut program 
passes. The lost revenue in the first year will exceed $275 million. It 
has been argued that the farmers' losses will be transferred into 
savings for the consumer, but this will not happen. Lower input cost 
for the manufacturer will be retained and not passed on to the 
consumer. The importance of the peanut program in North Carolina cannot 
be overstated. Agriculture is our most basic industry. The House has 
recognized that changes in past policies were needed. But it also 
recognized that changes must be gradual in order to minimize hardships 
and at the same time insure the health of this most important industry.

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