House leaders: Drought bill may come up next week

A House Republican leader said Thursday that the House may take up legislation next week to help farmers and ranchers hit by the drought that has parched much of the nation. House Majority Leader Eric Cantor, R-Va., said that in the final week before Congress leaves for a five-week summer recess the House may consider legislation related to "programs and disaster assistance under the expiring farm bill." Earlier, House Speaker John Boehner, R-Ohio, told reporters, "I do believe that the House will address the livestock disaster program." The two leaders offered few details of the legislation, but it is expected to focus on the livestock industry. Many corn and soybean farmers are partially shielded from drought damage by crop insurance but fewer livestock producers have insurance and the main federal disaster program for them expired last year. The drought is driving up the costs of feed, forcing some livestock farmers to reduce their stocks earlier than planned...more