WASHINGTON, July 27: The US House of Representatives on Friday passed a massive farm bill packed with consequences for global trade, despite a veto threat from President George W. Bush.

The multi-billion dollar five-year package, which passed by 231 votes to 191 offers a safety net for farmers and ranchers, regulates subsidies and aid and includes nutrition and conservation programs.

Democratic House speaker Nancy Pelosi hailed the bill as taking “America's farm policy in a new direction that stands with our farmers and ranchers and recognises their vital role of providing food, fibre, and fuel for America and the world.”

But Bush’s Republican administration threatened to veto the legislation, partly over what it says are high subsidies, a major stumbling block in the Doha Round of global trade negotiations.

Some Republicans, who had been disposed to support the bill, withdrew their backing after a House panel signalled it wanted to raise taxes on some foreign-owned companies with US subsidiaries in order to partly fund government nutrition programs.

The measure must now be reconciled with a Senate counterpart before it is presented to the president for signing.

The pressure is on to approve the 2007-2012 measure as the current bill expires on September 30, the end of the government’s fiscal year.—AFP