is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist

Legislation directed at crop insurance premium subsidies

If enacted, the legislation would reduce premium subsidy levels to those before the Agriculture Risk Protection Act was passed in 2000.

Two pieces of legislation have been introduced that would cut the premium subsidy for crop insurance.

Sen. Flake (R-Ariz.) and Rep. Duncan (R-Tenn.) introduced “The Crop Insurance Subsidy Reduction Act of 2013.” The lawmakers announced their legislation at an event hosted by the Environmental Working Group (EWG). 

If enacted, the legislation would reduce premium subsidy levels to those before the Agriculture Risk Protection Act was passed in 2000. The Congressional Budget Office estimates the bill would save $40.1 billion dollars over 10 years.

“The current U.S. fiscal crisis makes a strong argument for a commonsense roll back of crop insurance subsidies,” Sen. Flake said. “I’m proud to have the support of Congressman Duncan in introducing this legislation, which offers an opportunity to have taxpayer-funded federal farm subsidies more realistically reflect our current fiscal situation.”

Rep. Duncan said, “The crop insurance program has turned into a huge taxpayer-funded boon for some of the biggest, multi-national insurance companies and multi-millionaire farmers. In a time of record deficits and an incomprehensible $16.5 trillion in debt, this program can no longer be justified in its current form. 

“Senator Flake and I have joined together to offer a common sense reform that shields taxpayers and protects family farms.”

In addition to the EWG, the legislation is supported by a host of small government/tax focused advocacy groups.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish