May 21,2008

Baucus: Veto Won’t Block Final Farm Bill

Finance Chairman worked to include disaster assistance, farm reforms, tax relief in landmark agriculture legislation

Washington, DC - Senate Finance Committee Chairman Max Baucus (D-Mont.) today
condemned the President’s veto of the 2008 farm bill, but said Congress will override the veto in
short order. Baucus led the creation of a permanent trust fund for agriculture disaster assistance
in the bill, included $2 billion in farm tax reforms funding farm tax relief, and extended customs
user fees to fully pay for the farm bill’s $10 billion in new spending.

“Back home in Montana, we say you shouldn’t bring a knife to a gun fight. We’ve got the
votes to override the President and make the farm bill law, and that’s what this Congress
will do,” Baucus said. “I encouraged the President to join the team that brought this farm
bill to fruition, and I’m disappointed that he didn’t take the advice. But this veto is just a
speed bump on the road to finishing the farm bill, and it won’t stop this forward-looking
legislation from becoming law.”

Information distributed on various elements of the final tax and trade title of the farm bill, including the permanent disaster assistance trust fund, is available on the Senate Finance
Committee website.

A staff summary, legislative language, conference report language, and revenue tables are
available on the “Legislation” page of the SFC website as well.

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