crop insurance
SNAP outlays to surge by 18 percent this year — CBO
Federal spending on food stamps will rise by $24 billion this fiscal year, largely due to USDA's recalculation of the cost of a nutritious diet, said the Congressional Budget Office in a budget outlook that makes projections about the state of the federal budget and economy through 2032. The 18 percent increase in outlays would boost the cost of SNAP to $159 billion.
Report: Crop insurance premiums could skyrocket as climate change intensifies
Taxpayers shelled out nearly $40 billion in crop insurance premiums in the Mississippi River region between 2001 and 2020, and that number is expected to increase sharply as climate change intensifies, according to an analysis of Department of Agriculture data by the Environmental Working Group that was released Wednesday.
Cover crops get premium treatment again
For the second year in a row, farmers who plant cover crops are eligible for a premium benefit of $5 an acre on most crop insurance policies, said the USDA’s Risk Management Agency on Thursday.
Micro-farm crop insurance policy will debut in 2022
Small farmers who sell their products locally are eligible for a new micro-farm policy, said the Risk Management Agency, which oversees the federally subsidized crop insurance system. The policy, which simplifies recordkeeping and covers post-production costs, is available for 2022 crops.
Danger signs for 2023 farm bill in partisan rancor on Capitol Hill
Congress traditionally enacts the farm policy bills covering the gamut from crop subsidies to food stamps at the urging of a coalition of farm, conservation and anti-hunger groups. A former USDA official said the 2023 farm bill could be in peril if there is a repetition of the political turbulence that temporarily derailed the omnibus legislation twice in the eight years.
Conversion of grasslands accelerates in Great Plains
After slowing with the collapse of the commodity boom nearly a decade ago, the conversion of grassland to row crops is accelerating in the Great Plains of the United States and Canada, said the World Wildlife Fund.
ERS: Nearly $58 billion to farmers in pandemic year
When crop insurance indemnities and unemployment benefits are counted, the government sent $57.7 billion to farm operations and farm households in 2020, while the pandemic sent the U.S. economy into recession, said a working paper by USDA economists. It was the highest estimate yet of federal assistance to farmers last year and the most inclusive.
U.S. should offer incentives for conservation practices – Report
Economic concerns are often a driving factor when farmers decide whether to adopt conservation practices such as cover crops or diversified crop rotations, said the AGree farm policy initiative in a paper released on Wednesday. The paper called for more coordination of conservation practices with the taxpayer-subsidized crop insurance system.
Crop insurance should be a starting point for 2023 farm bill, say farmers
Farmers from Georgia to California told a House Agriculture subcommittee on Wednesday that the foundation of the 2023 farm bill should be the taxpayer-subsidized crop insurance system. They also expressed interest in the creation of a standby disaster relief fund.
Biden nominates USDA climate adviser to oversee farm supports
Robert Bonnie, named USDA climate adviser on the same day President Biden took office, will soon be in charge of all farm support programs, from land stewardship to farm subsidies and crop insurance, if confirmed by the Senate. Biden nominated Bonnie for undersecretary for farm production and conservation, arguably the highest-profile sub-cabinet post at USDA, on Friday.
In a wink to Congress, Perdue concedes on crop insurance
Agriculture Secretary Sonny Perdue reached back to his days as a governor to explain why the Trump administration proposed a 31-percent cut in crop insurance funding even if the plan has no traction on Capitol Hill.
Trade war aid outweighs Trump’s cuts in crop insurance and farm subsidies
This week's White House budget proposal to cut crop insurance by 31 percent and to tighten eligibility rules for farm subsidies would save less in 10 years than the administration spent to mitigate the impact of the Sino-U.S. trade war on 2018 and 2019 farm production, said an economist.
Trump again proposes large cuts in crop insurance
Three weeks after President Trump boasted of protecting crop insurance in the 2018 farm bill, the White House proposed a 31 percent cut in the federally subsidized program on Monday. The cuts, part of the administration's budget package for fiscal 2021, were proposed — and rejected by lawmakers — in previous years.
USDA approves state hemp production plans
For all its cachet as a potential money-making crop for American farmers, industrial hemp ranked midway between safflower and flaxseed in plantings, with an estimated 230,000 acres in 2019, and industry leaders disagree whether 2020 will be a year of expansion or retrenchment. But the USDA is approving state plans to regulate hemp production and offering crop insurance for hemp growers, steps that could help establish the crop.
House revives biodiesel tax credit two years after it expired
Congress is on the verge of retroactive restoration of the $1-a-gallon biodiesel tax credit, a result of the last-minute inclusion of a package of tax breaks in a mammoth government funding bill. The House passed the bill on Tuesday, and the Senate is expected to approve it by the end of the week.
USDA announces bonus payments for prevented planting
Farmers are in line for a “top-up” payment of up to 15 percent if they received a prevented-planting indemnity from crop insurers this year due to flooding or excessive rainfall, said the USDA on Thursday.
USDA gives growers the chance to switch crop subsidy programs
For the first time since the 2014 farm bill was implemented, the USDA is giving farmers the option of changing enrollment between the insurance-like Agriculture Risk Coverage and the traditionally designed Price Loss Coverage subsidies.
Crop insurance costs could rise steeply with climate change
Climate change is expected to lower U.S. corn, soybean, and wheat production and drive up the cost of the federally subsidized crop insurance program. The increase could be as small as 4 percent or as large as 37 percent, depending on how much temperatures rise and whether mitigation efforts are effective, said a USDA report on Monday.