The removal of subsidies, while causing significant repercussions for farmer income in the US, would
The removal of subsidies, while causing significant repercussions for farmer income in the US, would not reduce overall US production in a timely fashion or result in substantially higher prices either domestically or on the world market. This study has identified and conducted a preliminary analysis of a set of policy instruments with potential to increase market prices to a reasonable and sustainable level and effectively manage the excess capacity in US agriculture. This set include a combination of (1) acreage diversion through short-term acreage set-asides and longer-term acreage reserves; (2) a farmer-owned food security reserve; and (3) price supports.
Source: "Executive Summary," Rethinking US Agricultural Policy: Changing Course to Secure Farmer Livelihoods Worldwide, September 2003, 5