The U.S. House Agriculture Committee will debate legislation today to reauthorize farm programs, a day after the Senate panel approved a version that will cost $955 billion over 10 years.

The Senate bill would cut $24.4 billion in spending in the next decade by trimming $4 billion from food stamps, the biggest USDA program, $17 billion in farm subsidies and $3.6 billion in environmental programs the Congressional Budget Office reported. Crop insurance, which is making record payouts after last year’s drought, would rise by $5 billion. The full Senate will take up the bill next week, said Senator Debbie Stabenow, the Michigan Democrat who heads the committee.

“There are significant reforms and consolidations” that save money, Stabenow said yesterday after the committee voted 15-5 for the measure. “I am absolutely confident we will have a strong vote” in the Senate for a new law, she said.

The Senate’s version includes $6.4 billion eliminated through mandatory budget cuts known as sequestration that took effect March 1. Crop subsidies benefiting buyers such as Archer-Daniels-Midland Co. (ADM) and food stamps subsidizing purchases at Supervalu Inc. (SVU) are targets for lawmakers seeking to trim the deficit. The House committee’s plan would cost $940 billion over a decade.

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