Insurance cuts foreseen in next farm bill
Farm policy experts are expressing concern that continued delays in passage of a permanent farm bill are exposing the federal crop insurance program to potential budget cuts.
Iowa State University farm business management specialist Steve Johnson says it’s likely that there will be a decrease in federal subsidies for crop insurance in the next farm bill—which means crop insurance could be more expensive and more restricted going forward.
“I will be amazed if these subsidies stay at these levels for 2014, ’15, ’16 and ’17—the four years that will probably encompass this next farm bill,” Johnson says.
During debate on the 2012 farm bill, some congressmen—and some farm groups, like the Farmers Union—supported placing limits on the amount of crop insurance premium subsidies that farmers can receive. Farmers Union believes crop insurance subsidies should be targeted to “family-sized farmers”.