Deficit Reduction Act of 2005

Sponsor: Judd Gregg (R-NH)

Deficit Reduction Act of 2005 - Title I: Agriculture Provisions - Agricultural Reconciliation Act of 2005 - Subtitle A: Commodity Programs - (Sec. 1101) Amends the Farm Security and Rural Investment Act of 2002 to revise the national dairy market loss payment formula by decreasing the multiplier for the periods beginning on: (1) October 1, 2005, and ending on August 31, 2007; and (2) September 1, 2007. Extends the sign-up and contract periods through September 30, 2007. (Sec. 1102) Reduces advance payments for peanuts and for covered commodities to: (1) 40% for crop year 2006; and (2) 22% for crop year 2007.

Economics and Public Finance Topic assigned by the Congressional Research Service. CRS gives each bill one topic, based on the bill as introduced. This one carries 319 subject terms, so it spans well beyond that single label.