One of the biggest fears facing low-income families and seniors living on a fixed income is the rising price of food. To the extent that government policy can contribute to stable commodity prices, leading to stability in food prices, we believe it would benefit all Americans.
It is for this reason that we, the undersigned, are urging you to support House Concurrent Resolution 40, authored by Representative Ted Yoho, which would restore free market competition in the global trade of sugar.
Global trading pressures make sugar one of the most volatile commodities in the world. Much of this volatility is the result of government subsidies to growers in other nations, which grossly distort the market. It is these market distortions that make the price of sugar and hundreds of other foods made with it unpredictable. H. Con. Res. 40 brings stability to the market and the prices paid for groceries on every aisle in the supermarket.
Perhaps better known as the “Zero-for-Zero” policy, Rep. Yoho’s resolution identifies subsidies as the primary problem in maintaining stability in the price of sugar and other food products made with it. This would be of great benefit to millions of low-income families and seniors living on fixed incomes. It would also support tens of thousands of jobs related to American agriculture, many of which are located in smaller cities and towns that desperately need these jobs.
We know there are other proposals regarding this critical commodity, specifically the Sugar Modernization Act. While well intentioned, it would end government support to American farmers without reciprocal agreements by other sugar producing nations to end their subsidies. It essentially represents a unilateral disarmament by the United States, leaving American farmers dangerously vulnerable to economic harm and potential bankruptcy. We believe this is misguided policy that should be rejected.
The Zero-for-Zero plan shifts support for farmers based on global trading partners following the lead of the United States, bringing true, free market reforms to the market by phasing out government interference around the world. Zero-for-Zero would better protect American farmers from market volatility and protect American consumers by bringing price stability for food.
The signatories below represent national, non-partisan public policy organizations that have carefully studied this issue and are educating their millions of members and supporters on the importance of bringing free market reforms to the global sugar trade. Zero-for-Zero represents true global leadership by the United States and provides much needed stability that protects American farmers, jobs, consumers, and senior citizens. We urge you to support this measure.