A resolution expressing the sense of the House of Representatives that emergency action should be taken by the President and the Secretary of Agriculture to bolster the farm economy.

Declares the sense of the House of Representatives that the President and the Secretary of Agriculture should exercise the broad authority vested in them under the Food and Agriculture Act of 1977 and other statutes to increase farm income. Urges action: (1) to institute voluntary land diversion programs for 1978 for wheat, feed grains, and upland cotton; (2) to impose a uniform limitation on the acreage planted to upland cotton in 1978, amounting to a 20 percent reduction from the cotton acreage in 1977; (3) to establish price support loan rates for the 1978 crops of wheat, feed grains, and soybeans at levels sufficient to cover the average cost of production; and (4) to formulate and implement a program for the expansion of export sales of American agricultural commodities, including increased sales under the Agricultural Trade Development and Assistance Act of 1954 (Public Law 480).