Tag: crop insurance law

Crop insurance slashed through legislation for reducing expenses

Julie Campbell
Crop Insurance conservation

Growers may see reduced coverage levels in order to save taxpayers $24.4 billion over a decade. Two state representatives in Wisconsin have now introduced a bill called the Assisting Family Farmers through Insurance Reform Measures (AFFIRM) Act, which will slash crop insurance with the intention of providing taxpayers with savings over the next ten years. In the span of a decade, the insurance coverage cuts will mean $24.4 billion in expenses will be saved. According to farm subsidy program critic, Congressman Ron Kind (D), the crop insurance bill will still…

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Crop insurance payouts break records and spark debates

Crop insurance

Widespread drought across Iowa and other Midwest states lead to massive payments from the program. The droughts throughout the 2012 growing season will have generated an estimated record level of payments, reaching $16 billion, which has led critics to call for changes to the government subsidy system. They feel that the taxpayers are paying for an inefficient subsidy and the government can’t afford it. Farmers and growers purchase their crop insurance from private insurers. That said, those policy premiums are subsidized by the federal government, and losses over certain levels…

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Senate crop insurance reforms face opposition by House panel

Crop insurance

Challenges to changes made by U.S. House Agriculture Committee. The two new reforms for crop insurance that had received Senate approval have been challenged by the U.S. House Agriculture Committee, forming yet another dispute on the farm bill, as time for enacting the new law comes ever closer to running out. Aside from this disagreement, the House also seeks to boost price supports for crops by up to 40 percent. On the other hand, the Senate would prefer to cease the subsidies altogether. The preference of the House is to…

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