Manufacturers of sodas, candy bars and other sweetened snacks are taking aim at a long-standing federal program that keeps sugar prices high by restricting imports, according to The Forum in Fargo, N.D. For the full story, click here.
Editor’s Insight: One would think the historic federal debt would give Congress reason to consider reviewing the agricultural subsidies that the nation’s food and beverage manufacturers, and ultimately consumers, are paying for. According to this report, citing the Congressional Budget Office, the sugar-to-ethanol program alone, which is one part of the sugar subsidy, will cost $193 million in the next decade.
The sugar growers, for their part, claim product manufacturers will no pass the savings on to consumers.
Regardless of whether or not the product manufacturers will pass along the savings to consumers, now is a good time for lawmakers to debate the merits of taxpayer funded subsidies. 07-09-12 By Elliot Maras