CHICAGO Presumptive Republican presidential nominee John McCain, in a speech at the National Restaurant Association's annual trade show here Monday, blasted Congress for approving billions of dollars in subsidies for wealthy farmers and special interests in the newly passed farm bill.
Citing soaring food costs and commodities shortages, McCain said he would veto the bill were he president, as President Bush has vowed to do.
The NRA, however, approves of incentives in the bill for soybean production because of the industry's needs related to trans-fat-free oils and the 49-percent spike in the cost of fats and oils in the first quarter, said Michelle Reinke, the NRA's director of legislative affairs.
The bill's lowering of tax credit incentives for corn-based ethanol and stimulus for nonfood-derived ethanol are other aspects of the farm bill that could help ease food inflation, she also said before McCain's address.
The Arizona senator's speech was heavily laced with criticisms of his leading rival, Democratic candidate Sen. Barack Obama of Illinois.