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Impacts Of The Federal Agricultural Improvement And Reform Act Of 1996 (Fair Act) On The North Dakota Agricultural Economy

Author

Listed:
  • Koo, Won W.
  • Duncan, Marvin R.
  • Taylor, Richard D.
  • Aakre, Dwight G.

Abstract

The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) decouples government farm subsidy payments from both price and production and provides farmers with nearly complete planting flexibility. Government spending under this act will be limited to $35.63 billion for 1996-2002 period. The net farm income for all six representative farms under the 1996 FAIR Act is projected to be higher than under the 1990 farm act early in the forecast period and lower after 1999 under the 1996 FAIR Act. Cropland prices are projected to fall 19.8% between 1996 and 2002 under the 1996 FAIR Act, while cropland prices are projected to fall 18.5% under the 1990 farm act. Cash rental rates are projected to follow cropland prices. Debt-to-asset ratios for most farms, although rising across the forecast period, do not reach levels that imperil credit- worthiness, but in the case of the low profit farm and small size farm the debt-to-asset ratios rise to a level that may imperil credit-worthiness on new borrowing.

Suggested Citation

  • Koo, Won W. & Duncan, Marvin R. & Taylor, Richard D. & Aakre, Dwight G., 1996. "Impacts Of The Federal Agricultural Improvement And Reform Act Of 1996 (Fair Act) On The North Dakota Agricultural Economy," Agricultural Economics Reports 23150, North Dakota State University, Department of Agribusiness and Applied Economics.
    • Handle: RePEc:ags:nddaer:23150
    DOI: 10.22004/ag.econ.23150
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    File URL: https://ageconsearch.umn.edu/record/23150/files/aer352.pdf
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    Cited by:

    1. Johnson, Roger G. & Swenson, Andrew L., 1996. "Evaluation Of North Dakota Farm Business Management Education Program," Agricultural Economics Reports 23220, North Dakota State University, Department of Agribusiness and Applied Economics.
    2. Koo, Won W. & Duncan, Marvin R. & Taylor, Richard D. & Aakre, Dwight G. & Swenson, Andrew L., 1996. "An Economic Analysis Of The North Dakota Cattle Industry," Agricultural Economics Reports 23339, North Dakota State University, Department of Agribusiness and Applied Economics.
    3. Wu, Shunxiang & Walker, David J. & Brusven, Merlyn A., 1998. "The Efficiency And Effectiveness Of Conservation Compliance Under The 1996 Farm Bill," A.E. Research Series 305158, University of Idaho, Department of Agricultural Economics and Rural Sociology.

    More about this item

    Keywords

    Agricultural and Food Policy;

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