While the presidential debate hasn’t focused on the drought yet – it may become the focus soon for the candidates. The Federal Reserve Bank of Kansas City reported at the end of July that nearly two-thirds of U.S. corn, soybean and livestock production are facing severe drought conditions – with USDA designating half of the nation’s counties as natural disaster areas. Colorado, Iowa and Nevada – otherwise known as swing states – are three of the states that have been hit hard in the drought. The drought – a focus for the Agriculture Committees with the farm bill – is considered part of the unfinished business Congress has to work on before the November election – and many hope before the farm bill expires on September 30th. Neither of the major political parties see an advantage to avert automatic income tax increases and spending cuts that will take effect in January – but both are focused on improving their negotiating positions – depending on where each stands for control in the White House, House and Senate after November.
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