A report has been released by economists from the United States Department of Agriculture (USDA) on the topic of overlaps by the various farm safety net programs, investigating the possibility for fraud by those crossovers, but determined that there was very little evidence of its occurrence. However, the hope is that the new Farm Bill will divide the programs in a way that will minimize the potential of overlaps in the future. One of the best examples of farm program complexity is ACRE. The low participation in the program is…
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Texan farmers to receive insurance aid while battling extreme drought
Texas has been struggling to cope with one of the most severe droughts in the state’s history. The dry conditions have sparked a rash of wildfires throughout the state, which have burned crops and homes alike. The state’s insurers have been working to mitigate the damage caused by the extreme conditions and for those that lost their homes to fire, recovery is quickly becoming a reality. Good news is on the horizon for thousands of farmers who had their crops destroyed by the drought as well. More than 41,000 Texan…
Read MoreCrop insurance a key part of Obama’s federal deficit remedy.
President Obama unveiled his plans to tackle the federal deficit Monday. One of the ways the administration will confront the federal deficit is by making changes to the overarching agricultural infrastructure of the nation. Obama is looking to provide farmers with a $5 billion annual subsidy that will help them regulate the price of crops and purchase crop insurance in order to guard against natural disasters. This will remove the direct payment structure that has been in place in the industry since 1996, however, a move that has garnered a…
Read MoreAgricultural groups support crop insurance, export promotion, and research
According to a North Dakota agricultural groups spokesperson, as the groups ready themselves for federal spending cutbacks, the next federal farm bill’s top priorities should be crop insurance, export promotion, and research. State director for U.S. Senator John Hoeven (R-N.D.), Shane Goettle, explained that there will be fewer resources with which to work. He added that it is very important that they keep a steady communication regarding the farm bill’s priority as they will be responsible for deciding what will need to be cut and what must be maintained. Goettle…
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