The University of Illinois’ Farm Policy News says Republicans on the Senate Agriculture Committee proposed putting $4 billion into the national crop insurance program.
That means the government would pay a larger share of the policy premiums for the highest coverage levels. The plan, called the FARMER Act, would inject $4.2 billion over ten years. Premium support for revenue and yield protection at the 80 percent coverage level would rise from 68 to 77 percent. At the 85 percent coverage level, protection would increase from 53 to 68 percent. The proposed increases would only be provided to enterprises and whole farm units.
The plan counters an earlier suggestion on crop insurance from Senate Ag Chair Debbie Stabenow, who said her proposal was just intended to jump-start negotiations on the farm bill, and she’s “glad it worked.” AFBF President Zippy Duvall says, “The FARMER Act will make higher coverage more affordable.”