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1 [1] (July 27, 2018)

handle is hein.crs/crsmthzzbcw0001 and id is 1 raw text is: CRS INSIGHT Commodity Credit Corporation: Q&A July 27, 2018 (IN10941) Related Author Megan Stubbs Megan Stubbs, Specialist in Agricultural Conservation and Natural Resources Policy (m)stubbs Ora lg gg, 7-8707) On July 24, 2018 the U.S Department of Agriculture (USDA) announced the use of up to $12 billion in funding authorized under the Commodity Credit Corporation (CCC) to compensate agricultural producers for losses in response to retaliatory tariffs on certain U.S. agricultural commodities. This has raised general questions related to the CCC, its use, and authorities. In brief, CCC makes payments to producers and conducts other operations to support U.S. agriculture. Typically, Congress passes laws, such as omnibus farm bills, that specifically direct USDA on how to administer these activities and in what amounts to fund them. The underlying authorization for CCC also provides the Secretary of Agriculture with general powers to take certain actions in support of U.S. agriculture at the discretion of the Secretary. This discretionary use has historically been somewhat intermittent and limited in its scale. It is this discretionary use of CCC authority that USDA cites for the supplemental, tariff-related activities it announced on July 24. This CRS Insight answers frequently asked questions about the CCC and its authorities and uses. For additional information on the CCC and its authorities, see CRS Report R44606, The Commodity Credit Corooration: In Brief. What Is the CCC? The CCC is a wholly government-owned entity that exists solely to finance authorized programs that support U.S. agriculture. It is federally chartered by the CCC Charter Act of 1948 (P.L. 80-806; 15 I SC 7-14 et seq.), as amended, and subject to the supervision and direction of the Secretary of Agriculture at USDA. How Is the CCC Funded? CCC is responsible for the direct spending and credit guarantees used to finance the federal government's agricultural commodity price support and related activities that are undertaken by authority of agricultural legislation (such as farm bills) or the CCC Charter Act itself. Borrowing Authority Most CCC-funded programs are classified as mandatory spending programs and therefore do not require annual discretionary appropriations in order to operate. CCC instead borrows from the U.S. Treasury to finance its programs. CCC has permanent, indefinite authority to borrow up to $30 billion from the Treasury. Cash Flow

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