Congress to determine the fate of crop insurance – plans for income insurance in the works

The agriculture industry in the U.S. has been battered by recent natural disasters. These events have damaged crops and, in some cases, completely demolished farmland in the Eastern states. Congress is now drafting new insurance regulations that would birth a new subsidy for farmers that have seen their livelihoods put at risk due to storms and other natural disasters. The insurance plan will help protect the income of farmers, but several insurance groups have voiced their opposition for the plan, arguing that it could encourage farmers to adopt risky practices.…

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