NEW FARM BILL STALLED

Minnesota Congressman Colin Peterson work on the new farm bill continues but he sees possible road blocks ahead. Peterson said President Bush has suggested he may veto the bill because of its $286-Billion price tag. Peterson said if he vetoes the bill, all bets are off. If a new farm bill isn't signed by mid-March, farm policy will go back to 1949 price standards known as 'permanent law'. Peterson said that wouldn't be all bad. Food prices could drop and the federal tax burden could lessen. The Congressman said 'permanent law' is very workable in the current market situation because most price support levels are below current prices.