Farm and Food: It is better to reform the crop insurance program rather than expand it. However, that is unlikely.
Farm Rio: Better To Reform The Crop Insurance 2024
When Benjamin Franklin, one of the founding fathers, observed, in print no less, that “taxes and death are two inevitable facts of life,” he was almost three centuries ahead of his time.
If Ben had been in the “Almanack” business today, he would have added two more contemporary realities of American life to his list:
the growing reliance of farmers and ranchers on crop insurance and the growing concerns of taxpayers over the rising costs associated with that reliance.
The Government Accountability Office, an impartial watchdog of Congress, released hard data on the current federal crop insurance program’s broad usage, growing expenses, and the final destination of the majority of federal subsidies.
The results stunned taxpayers, who, like nearly every
Outside of America, working farmers and ranchers are unaware of the program’s expansion, features, and expenses.
Farm and Food: House Republicans had an endless 2023. In 2024, anticipate more of the same.
One of crop insurance’s most ardent detractors, the Environmental Working Group, provided an example of how “the top 1% of crop insurance policyholders, farmers with the highest incomes, got over $2.5 billion in premium subsidies in 2022 — an average of almost $500,000 per farm.”
Participants in this federal crop insurance program, or rather revenue insurance program, receive substantial subsidies in addition to policyholders. The insurance providers that the US Department of Agriculture contracted with to administer the program are also reaping enormous profits.
Even worse, Republicans are now abusing the Farm Bill on the House Ag Committee.
delay in favor of an expanded, albeit unreformed, crop insurance program, which opponents claim would give even more subsidies to even wealthier farmers.
For instance, lawmakers are considering increasing subsidies for supplemental, area-based crop insurance policies to encourage growers to purchase higher levels of coverage, which may lessen the need for ad hoc disaster assistance from farm groups, according to Agri Pulse, a reliable source for agricultural news.
Did you notice how every word in that sentence—”boosting subsidies,” “supplemental policies,” and “induce”—is guaranteed to increase costs as opposed to the one cost-saving hope of “potentially reduce ad hoc disaster”?
Jake From State Farm
Market Basket: A new owner, menu, and crew give Frank’s Place in South Bend a fresh start.
More importantly, according to Agri Pulse, “Economists say the expanded In times when prices and input costs are high and farmers are unlikely to receive payments from Price Loss Coverage and Agriculture Risk Coverage, two of the largest crop insurance programs, coverage may be especially helpful to farmers.
READ MORE:
1. Health and Fitness Tips for You
2. Upcoming New Movies
3. Get New Jobs Directly From Companies FREE Visa
4.Latest News of Cryptocurrency and Bitcoin
5. Real Estate Business for you
6. Latest News
7. Best Insurance Policy for Everyone
READ MORE:
- 1. Strategic Management Process: Top5 Jobs In Dubai FREE VISA Apply Now
- 2. Vancouver Time fighting for $12,000 in travel insurance Nightmare FREE
- 3. DIABETIC DIET : A PROFESSIONAL’S GUIDE TO A WARM AND WELL-BEING
- 4. NICOLAS CAGE STATES : HE HAS 3 OR 4 MORE MOVIES LEFT NOW
- 5. EMPRESS CRACKS: FOR THE FIRST TIME SINCE APRIL
- 6. DESPITE MEANING: DESPITE HIGH RATES, MORE US HOME BUYERS ARE WILLING TO BUY
- 7. A 44-YEAR-OLD BOSTON WOMAN WAS KILLED BY A SHARK ATTACK IN THE BAHAMAS WHILE ON VACATION
