Congress withdrew support for a U.S. cotton subsidy program Wednesday, ending export and import subsidies and normalizing world cotton prices.Ending a subsidy? What next? It must be the end of the world.
The U.S. House of Representatives approved legislation that would repeal a support program for cotton formally known as "Step 2" as part of its Deficit Reduction Omnibus Reconciliation Act. Before the end of 2005, the Senate passed identical legislation. The bill will now go to President Bush who is expected to sign it into law.
Tuesday, February 7
Hell Freezes Over
Via Julian Sanchez
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