"In his proposed budget for fiscal 2012, beginning October 1, Obama proposed that farm subsidies go only to people with less than $500,000 in adjusted gross income from agriculture or less than $250,000 off-farm AGI. The current cut-off is $750,000 on-farm AGI and $500,000 off-farm AGI. The new caps would be phased in over three years under the administration proposal.
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