House Approves Tobacco Buy Out Plan
Washington, D.C. – The U-S House has voted to pay tobacco farmers for
giving up their government price supports. A plan that
was approved Monday night by the House Ways and
Means Committee was approved by the full House
An estimated 400 thousand tobacco quota holders would
receive a share of the buyout, based on their allotments.
Owners who farm using their own allotments would get
ten dollars per pound of quota, or seven dollars per pound
if they rent it to someone else to farm. In that case, the
renting farmer would get three dollars per pound.
U-S Representative Ron Lewis, who helped move the plan
through the Ways and Means Committee, says the buyout
would allow farmers a dignified end to the program that
started during the depression era.