The House Agriculture Committee released its Farm Bill legislation today, the Federal Agriculture Reform and Risk Management Act (FARRM), to be marked up in the full committee on July 11.  “This bill is an investment in production agriculture and rural America,” said Chairman Frank D. Lucas, R-Okla. “Those of us in the agriculture community are quick to point out that our producers provide us with the safest, most abundant, most affordable food and fiber supply in the history of the world. We say it because it's true. This legislation is a commitment to maintaining that tradition.” Keeping with Lucas’s pledge to draft a bill fair for all commodities and all regions, FARRM provides two coverage options under the Commodity Title. One, called Price Loss Coverage (PLC), is designed to address deep, multiple-year price declines. The other, Revenue Loss Coverage (RLC), addresses revenue losses and is triggered after the producer experiences at least a 15 percent loss and is based on the county level. Both price and revenue will pay on 85% of planted acres up to total base, but cannot exceed the total base. (more) July 5, 2012 Agri-Pulse