1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21642October 14, 2003Comparing Quota Buyout Payments forPeanuts and Tobacconame redactedSpecialist in Agricultural PolicyResources, Science, and Industry DivisionSummaryLegislation i
2、s pending in the 108thCongress (S. 1490, H.R. 3160) to eliminatetobacco quotas and compensate quota owners (whether they are absentee owners oractive producers) at the rate of $8 per quota pound. Active producers would lose pricesupport, but would receive a lump sum transition payment of $4 per poun
3、d on theirproduction history, including the quota they own as well as any quota they rent. Aprecedent for quota buyouts was established in the 2002 farm bill, which terminatedpeanut quotas and compensated the owners with a $0.55 per pound payment. Activepeanut producers continue to receive price sup
4、port.A comparison of peanut andtobacco quota buyout rates shows that the two are substantiallycomparable (relative topast quota rental rates). However, current USDA budget projections indicate thatcontinuingoperationofthepeanutsubsidyprogramlikelyprovidessignificantlyhigherbenefitsthantheproposedtob
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