Indiana Senator Richard Lugar, who proposed scrapping antiquated programs during both the 2002 and 2007 Farm Bill debates, and replacing them with crop specific revenue-based and whole farm revenue-based insurance, is welcoming the Iowa Farm Bureau’s policy recommendation calling for an end to direct subsidy payments and moving instead to basing farm programs on revenue based insurance.
“I am encouraged by Iowa Farm Bureau endorsing farm program reforms. All farmers face risks, not just those covered by our current programs. The next farm bill debate in 2012 will require us to respond to our runaway deficit and cut costs. Revenue insurance is the best way to do that while enhancing trade opportunities and not distorting market prices,” Lugar said.