Obama signs Farm Bill, announces new rural business initiative
President Obama signed the Agricultural Act of 2014 into law Feb. 7 during a ceremony at Michigan State University, ending the nearly three-year process to enact a new Farm Bill.
The legislation extends, expands and modifies federal agriculture and nutrition programs, including farm income support, crop insurance, conservation, credit assistance, trade, research, international food assistance, rural development and other programs through the fiscal 2018 crop year. The 2014 Farm Bill also includes mandatory funding for a variety of energy title programs, including the Biomass Crop Assistance Program, the Rural Energy for America Program and the Community Wood Energy Program.
During his speech at the MSU event, Obama also announced the launch of a new Made in Rural America export and investment initiative. The program is designed to help more rural businesses expand, hire, and export more products to the rest of the world.