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Senate Farm Panel Approves Spending Cuts 60 Years in Making

The Senate Agriculture Committee approved a farm bill that would save $24.7 billion over 10 years and which represents one of the biggest policy changes in generations.

The plan, based on income protection ideas six decades in the making, would replace a direct-payment program for major crops with a revenue guarantee, while reducing conservation and food-assistance spending. The bill, approved in a 12-4 vote, includes the first broad subsidy cuts in 16 years.