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Sen. Chambliss applauds release of new cotton program rulesU.S. Senator Saxby Chambliss, R-GA, Ranking Republican Member on the Senate Agriculture Committee, Oct. 30 issued the following statement after the U.S. Department of Agriculture issued the final rules and regulations for the cotton program as outlined in the new farm bill: "I appreciate the U.S. Department of Agriculture announcing the implementation of the cotton changes in the farm bill. These changes--including modifications to the marketing loan program, changes to storage credits, and establishment of an economic assistance program for the domestic textile industry--were included in the farm bill with no additional costs to the taxpayer at the request of the cotton industry. Cotton is the largest crop in Georgia and our producers and the entire industry have been anxiously awaiting the new regulations for months. The actions by USDA should offer them some certainty as harvest season continues. During farm bill negotiations, we intended for storage credit reductions to be made to maximum rates rather than each individual warehouse rate, and Georgia warehouses will be better off under this interpretation. I am appreciative of the efforts by the Department to implement storage credit provisions consistent with Congressional intent." 11/17/08 Date: 11/13/08
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