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Clinton signs bill

WASHINGTON: U.S. President Bill Clinton on Thursday signed a $47 billion farm bill that replaces Depression-era subsidy programmes with set annual payments that decline over several years.

The Republican-backed "Freedom to Farm" law removes most federal limits on what farmers grow, a step that backers say will unleash American agriculture to pursue profits on the booming export market.

Clinton said in a statement he had reservations about the bill, contending it unwisely weakens the safety net for farmers.

He said he would work with Congress next year to try to "strengthen the farm safety net".

"Farm legislation is long overdue," Clinton said of the sweeping overhaul.

The new law creates a new crop support programme in place of the Depression-era laws that tried to limit farm output. Farmers will receive declining fixed payments through 2002 but would have few limits on the crops they grow.

The law also phases out dairy supports after four years, and reauthorizes food stamps - the nation's major anti-hunger programme - for two years.

It provides up to $300 million for restoration of the Everglades in Florida and guarantees funding for soil and water conservation programmes.-Reuter