WKYT | Lexington, Kentucky | News, Weather, Sports

McConnell: Farmers to get final buyout payments

FRANKFORT, Ky. (AP) - Senate Minority Leader Mitch McConnell says tobacco farmers will get the full amount of their final payments as part of the tobacco buyout.

The Kentucky Republican says he was notified by the U.S. Department of Agriculture that automatic budget cuts will only slightly disrupt timing for the last full payments.

The last installment is due this year to compensate tobacco farmers and others for losing their production quotas when the government's price-support program ended a decade ago.

A McConnell spokesman says quota holders will receive up to 95 percent of their final payments early this year, and the rest will be paid in early 2015.

The buyout was paid by an assessment on tobacco companies.AP-KY--Tobacco Buyout-Payments
McConnell: Farmers to get final buyout payments
Eds: APNewsNow.

FRANKFORT, Ky. (AP) - Senate Minority Leader Mitch McConnell says tobacco farmers will get the full amount of their final payments as part of the tobacco buyout.

The Kentucky Republican says he was notified by the U.S. Department of Agriculture that automatic budget cuts will only slightly disrupt timing for the last full payments.

The last installment is due this year to compensate tobacco farmers and others for losing their production quotas when the government's price-support program ended a decade ago.

A McConnell spokesman says quota holders will receive up to 95 percent of their final payments early this year, and the rest will be paid in early 2015.

The buyout was paid by an assessment on tobacco companies.

McConnell pointed out to the USDA a provision in the Budget Control Act allowing quota holders to receive full payment.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 239159761 - wkyt.com/a?a=239159761