Congressman Bob Latta (R-Bowling Green) has cosponsored bipartisan, bicameral legislation, which was introduced today to reform current U.S. sugar policy. Specifically, this bill would repeal the sugar loan program, the marketing allotment, and the price support.
“The current sugar policy was initially set to expire in 1940 and includes outdated sugar policies that artificially inflate prices, limit domestic production, and impose strict import quotas,” said Latta.
The bill would also replace inflexible quota restrictions with a system that would ensure an adequate and reasonably priced sugar supply in the United States in order to keep the U.S. sugar processing industry competitive.
“These uncompetitive policies create domestic sugar prices that are two to three times higher than the rest of the world, hindering food and beverage production, as well as jobs. It is estimated that the sugar-using industry generates approximately 32,200 jobs in Ohio and in the Fifth Congressional District of Ohio, Spangler Candy Company has around 300 local employees,” Latta concluded.