Update #3: We've got to get out of here for now. Maybe someone will put some final updates in the comments. We'll have longer analysis later.
Update #2: They are now voting on 7 amendments. One fifteen minute vote followed by 6 two minute votes.
Update: In the last five minutes Chairman Peterson has implied that his proposal places a hard-cap on commodity payments at least half a dozen times. No, sorry Chairman Peterson. Your proposal does not place a hard-cap on commodity payments. Please quit misleading your fellow representatives and the American people. Thank you.
So they are still debating a whole slew of amendments. We expect 2 minute voting periods to start soon on amendments not withdrawn. We also expect a motion to recommit to be made before the final vote on the bill.
I'll come back to this post with updates if anything interesting happens. Dan is working on a longer analysis that we'll post after the final vote is taken as well.