Thursday, May 31, 2012
Excerpt: Sugar Subsidies: Bitter about paying artificially high prices for the non-artificial sweetener everyone uses just so a politically connected family can enjoy the sweet life? It's time lawmakers put a lid on the honey pot.
An Iowa State University study has found that the federal sugar program costs U.S. consumers roughly $3.5 billion a year and deprives the workforce of 20,000 jobs. This New Deal-era framework of barriers on sugar imports and of price supports for domestic sugar is a racket that benefits only a few, in particular the Fanjul family of Florida.
In a letter to House leaders, a group of lawmakers from both parties call U.S. sugar policy "the last of the command-and-control commodity programs that has yet to be reformed." The 22 representatives insist that Congress should "have a robust debate about sugar policy during consideration of the 2012 farm bill."
They write: "No other farm program is deliberately designed to transfer income from American consumers and workers to a small, but 'special,' interest group of sugar processors and growers."
Read full Investors Business Daily article here.