For a recorded statement from Congressman Lucas regarding the announcement of this legislative package, call 202/225-0006. Stay on the line and the message will repeat once automatically.

"I am extremely pleased that other Members of Congress are now realizing we in agriculture country are experiencing a significant crisis," Lucas said. "After speaking about the ag economic disaster developing in areas of the country like Oklahoma for months, it is reassuring to see that we now have the attention of the leadership of the U.S. Congress.

"There are several contributing factors to the agriculture economic crisis we are seeing," Lucas continued. "The drought problems we have been experiencing in Oklahoma for most of the year, the worldwide economic downturn starting last year in Asia, the price problems associated with big yields earlier this year, and the lack of the Administration's use of export enhancement tools are putting us in a world of hurt.

"We could handle one or two of these problems at a time, but we are being hit from every direction," Lucas said.

The package includes $2.25 billion in total funding to address crop disaster losses, divided into three parts:

• $1.5 billion to assist producers who have been hit by crop losses in 1998.
• An additional $657 million to provide assistance to producers who have suffered multiple-year crop losses.
• $75 million for livestock feed assistance in a cost-share program available to livestock producers who lost their 1998 feed supplies to disaster.

Also contained in the legislative package is an additional $1.65 billion in Agricultural Marketing Transition (ACTA) payments for fiscal year 1998. This is funding above the approximately $8 billion to be released in September/October of this year already, thus making available in the next few weeks approximately $10 billion to producers who signed up for the '96 Farm Bill.

"I see the funding levels in this legislation as a real solid commitment from Congress," Lucas said. "We need to get this assistance passed before the end of the legislative year, get it circulating back home and see what else Mother Nature sends our way."

A separate tax relief bill is being introduced by the House Ways and Means Chairman Bill Archer to offer benefits to farmers and ranchers as small businesses, including:

• Expediting the expanded health insurance deduction to make 100% deductibility effective immediately for U.S. farmers and ranchers--average savings $382/person.
• Immediate $25,000 per small business expensing deduction -- average savings of $1,700 per family farm.
• Permanent income averaging for farm income -- total savings to U.S. agriculture of $50 million per year.
• Accelerating death tax relief immediately for 100% of the $1 million death tax credit -- annual savings for U.S. agriculture of $150 million per year.
• Increasing the net operating carry back period for farmers -- benefiting 100,000 family farmers.

"The farm states have the ear of the U.S. Congress," Lucas said.