Latest insurance news report shows crop subsidy cap could create $1 billion in annual savings

Crop Insurance cuts

Crop insurance news update The latest Congressional auditors insurance news report, which is set to be released on April 19, 2012, will show that if there is a reduction in the subsidies given to large farms to pay for most of their crop coverage, the federal government would see an annual savings of approximately $1 billion. This report suggested that the government could cap the maximum amount to be paid to farmers every year through this subsidy at $40,000, in a similar way to the caps made by the government…

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New subsidy for farmers has backing from lawmakers in the farm states

Lawmakers in the farm states are making efforts to form a brand new type of subsidy that would provide farmers with protection when they face a drop in revenue. This program is unprecedented and would provide farmers with billions of dollars in future support to farmers who are currently experiencing record breaking high prices for their crops. This free insurance subsidy would give farmers with the coverage they need for “shallow crop losses” that are incurred before their paid insurance policies become effective and has the support of soybean and…

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Agriculture groups seek more protections against severe weather with insurance safety net

Extreme weather is presenting a unique and complicated problem to the nation’s farmers. With many decrying climate change as a scientific impossibility, famers have been left handling the issue of uncommonly severe weather without a place to put the blame. In fact, most farmers do not even mention climate change when discussing the issue, focusing their concerns more on the protection of their crops and mitigating any losses they experience. This has led to a rampant increase in demand for crop insurance throughout the nation. Crop insurance can help farmers…

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