This week’s Cotton Newsline is 3 cuts. All cuts are Darron Hudson, Director of the Cotton Economics Research Institute at Texas University.
Suggested Introduction 1:
There was some concern about the loss of access by U.S. mills to competitively priced cotton when the step two program was ruled in violation of our commitments and removed from the farm bill. Darron Hudson, Director of the Cotton Economics Research Institute at Texas Tech University says The Textile Economic Adjustment Assistance Program or T.E.A.A. program was developed to help U.S. Textile mills by providing a four cents per pound subsidy on all cotton consumed in the U.S.
Suggested Introduction 2:
Hudson says the four cent per pound subsidy is to be reinvested into the textile industry.
Suggested Introduction 3:
According to Hudson this program should preserve some degree of domestic consumption.