The Payment-in-Kind (PIK) Program (CRS Report for Congress)
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| Release Date |
Nov. 9, 1983 |
| Report Number |
IB83021 |
| Authors |
Mark McMinimy, Environment and Natural Resources Policy Division |
| Source Agency |
Congressional Research Service |
Summary:
Despite federal efforts last year to curb productjon and dispose ofsurpluses, record production and continued high carryover stock levels formost commodities have depressed farm prices and significantly increasedexpectea federal outlays for agricultural price support programs. In anattempt to bring supply in line with demand, President Reagan announced onJanuary 11, 1983, that the U.S. Department of Agriculture (USDA) wouldimplement a payment-in-kind (PIK) program for the 1983 wheat, rice, corn,sorghum, and upland cotton crops. Recently, USDA announced a PIK program forthe 1984 wheat crop.
