Statement on Congressional Action on Farm Security and Rural Development Legislation

I congratulate Chairman Combest and the other House and Senate conferees for a job well done in completing the "Farm Security and Rural Development Act of 2002."

I am pleased that the compromise agreement on the farm bill resulted in better balanced commodity loan rates; spending that is no longer front-loaded; and the strongest conservation provisions of any farm bill ever passed by Congress. The final provisions of the farm bill are also consistent with America's international trade obligations, which will strengthen our ability to open foreign markets for American farm products. While this compromise agreement did not satisfy all of my objectives, I am pleased that this farm bill provides a generous and reliable safety net for our Nation's farmers and ranchers and is consistent with the principles I outlined.

I thank the conferees for their hard work and urge Congress to send the farm bill to my desk promptly for signature to help ensure the immediate and long-term vitality of our farm economy.