North Carolina: Tobacco Farmers Await $10 Billion Buyout

Source from:  WECT 6 WILMINGTON(NC) 10/10/2004

The $10 billion tobacco buyout is now in the hands of the U.S. Senate, which could pass it by the end of the weekend. According to the Washington-based Environmental Working Group, which did an analysis of the buyout, farmers in New Hanover, Pender and Brunswick Counties could get more than $48 million Farmers in Columbus and Bladen Counties could get tens of millions more. [img border=0 hspace="4" vspace="4" align="left" src=http://www.tobaccochina.com/english/picture/2407373_BG1.jpg] Jody Clemmons grew up on a tobacco farm and is now carrying on the family business. Every year, it gets harder. This year has been a roller coaster ride. "It started out kind of slow, but we had a real nice crop and things were going real smooth, then we had the storm come and we had heavy rain after that," says Clemmons. The buyout will phase out the quota system that has been place since the Great Depression. Farmers say the system hurts them by limiting the amount of tobacco they can sell to companies. Because of that, many farmers are leaving the business. Congressman Mike McIntyre (D-7th District) has worked long and hard to get the buyout passed. He is especially pleased that the tobacco companies themselves will pay for the buyout. "This is a real victory, it not only helps farmers, and our general economy, but it's not being financed by the average taxpaying citizen," McIntyre said in a phone interview. Many older farmers will likely retire and invest their buyout money, but Clemmons would like to keep the family business going - if he can still make a living doing it. Enditem