You are here:HomeIssuesCrop Insurance2014President Obama Proposes Cuts to Crop Insurance

President Obama Proposes Cuts to Crop Insurance

One month after Congress passed the Farm Bill, bolstering its crop-insurance offerings, President Obama’s 2015 budget proposes trimming federal crop insurance assistance...
March 6, 2014

One month after Congress passed the Farm Bill, bolstering its crop-insurance offerings, President Obama’s 2015 budget proposes trimming federal crop insurance assistance. Under the White House budget released Tuesday, the government would save $14 billion over 10 years by pulling back some on assistance helping farmers pay crop insurance premiums and limiting reimbursements to the private companies that administer the programs.

When the Farm Bill passed last month, its shift toward crop insurance was hailed by lawmakers as a way to nudge farmers to sink more of their own money in financial safety-net programs. At the time, the nonpartisan Congressional Budget Office estimated the Farm Bill would bump up crop insurance funding by around $5.7 billion over 10 years.

Obama Proposal Would Trim Crop Insurance (Wall Street Journal 3/4/14)

Filed under: