The Reagan administration officiallysubmitted to Congress its proposals to cut back U.S. farmers'
income deficiency payments, decouple planting decisions from
income support levels and accelerate reductions in loan rates,
Senate staff said.
    The recommendations, first outlined last January in
President Reagan's fiscal 1988 budget blueprint, were
transmitted to both houses of Congress as legislative
proposals.
    It was not clear which lawmakers might introduce the
measures.
    The most controversial proposal in the package would make
10 pct annual reductions in target prices for major
commodities. A number of legislators have predicted the target
price proposal will not move in Congress.
    The package also would offer the so-called 0/92 option to
producers of 1987-90 crops and raise the annual permissible
reduction in loan rates to 10 pct from 5 pct.
    Under 0/92, a producer is guaranteed at least 92 pct of his
deficiency payment regardless of how much he plants.
 Reuter
