Crop insurance will cost Americans two cents per meal
The Congressional Budget Office’s latest 10-year budget projections show Americans spending two cents per meal to fund federal crop insurance.
From 2000 to 2011, federal crop insurance cost Americans one cent per meal. This one-cent increase comes despite the five-year, $100 billion per year farm bill. Most of the farm bill money goes to domestic food programs. Only about 15 percent of the budget supports farm programs and crop insurance.
In part, these rising insurance prices are the result of bad weather. Crop insurance protects farmers against inclement weather, and with droughts affecting many areas in the U.S., farmers need crop insurance more than ever. The government spends roughly $8.5 billion per year on farm insurance while farmers pay $4 billion out of pocket to buy policies. Read more here.
The Senate’s farm bill creates a link between conservation compliance and crop insurance subsidies. Farmers with high-adjusted gross incomes will receive smaller subsidies than low-income farmers will. Read more here.
- Irrigation Association to release online courses with Cal Poly
- Monsanto to invest $120 million in Argentina
- Ag markets ended Tuesday mostly lower
- Fat molecules influence function of key photosynthesis protein
- Monsanto honored for efforts in developing agriculture in Vietnam
- Corn stocks top 1.2 billion bushels
- U.S. GMO labeling foes triple spending in first half of this year
- Source shows half of GMO research is independent
- Activists fighting Golden Rice even more in 2014
- White House issues veto threat on bill to block WOTUS rule
- How much corn can the ethanol industry use?
- East-West Seed signs marketing collaboration with Monsanto