Cotton farmers can enroll in transition program
August 08, 2014 | 03:08 PM
Cotton farmers can enroll in the Cotton Transition Assistance Program (CTAP) established under the 2014 farm bill starting Monday through October 7, the Agriculture Department’s Farm Service Agency announced Thursday.
The program provides interim payments to cotton producers during the 2014 crop year until the Stacked Income Protection Plan, a new insurance product also created by the farm bill, is available.
CTAP applications approved before October 1 are subject to congressionally mandated automatic reductions of 7.2 percent for the 2014 crop year. Applications approved after October 1 will be reduced by the required 7.3 percent for the 2015 crop year.
The Budget Control Act of 2011 requires USDA to implement these reductions to program payments.
The program provides interim payments to cotton producers during the 2014 crop year until the Stacked Income Protection Plan, a new insurance product also created by the farm bill, is available.
CTAP applications approved before October 1 are subject to congressionally mandated automatic reductions of 7.2 percent for the 2014 crop year. Applications approved after October 1 will be reduced by the required 7.3 percent for the 2015 crop year.
The Budget Control Act of 2011 requires USDA to implement these reductions to program payments.
