Federal crop insurance subsidies : issues and reduction proposals / Nichole Manning, editor.

Format:

Book

Contributor:

Manning, Nichole, editor.

Series:

Agriculture issues and policies.

Agriculture Issues and Policies

Language:

English

Subjects (All):

Crop insurance--United States.

Crop insurance.

Physical Description:

1 online resource (152 p.)

Place of Publication:

New York, [New York] : Nova Publishers, 2015.

Summary:

Many farm policymakers generally consider the federal crop insurance program as the principal tool to help farmers cope with the variable impact of weather on crop yields. The program makes available subsidized policies that farmers may purchase each year to protect against yield and/or revenue declines during a particular growing season. Policies are available for about 130 commodities, covering crops supported by traditional farm programs (e.g., corn, wheat, and soybeans) as well as many fruits, vegetables, tree nuts, nursery crops, pastureland, and other commodities. Farmers pay a portion of the premium, unlike farm programs, which are free. Premium subsidies for federal crop insurance have been instrumental in expanding program participation to levels acceptable to policymakers. This book examines current premium subsidies, proposals to limit them, and potential options for Congress. Furthermore, this book examines trends in federal crop insurance costs and farm sector income and wealth from 2003 through 2012; and the potential savings to the government and impacts on farmers, if any, of reducing federal premium subsidies for revenue policies.

Contents:

FEDERAL CROP INSURANCE COSTS AND FARM SECTOR INCOME AND WEALTH GREW SIGNIFICANTLY FROM 2003 THROUGH 2012 Costs of Federal Corp Insurance Are Growing, Primarily Due to an Increase in Premium Subsidies for Revenue Policies; Farmers Are Increasingly Purchasing Revenue Policies and Choosing Higher Insurance Coverage Levels ; Farm Income, Real Estate, and Asset Values Increased from 2003 through 2012 ; Reducing Federal Premium Subsidies for Revenue Policies Would Potentially Save Millions of Dollars with Limited Costs to Individual Farmers

A 5 Percentage Point Reduction in Federal Premium Subsidies for Revenue Policies Would Potentially Save Millions, and Larger Reductions Would Save More Reducing Federal Premium Subsidies Would Increase Individual Farmers' Average Costs per Acre, but the Increase Would Be Limited; Impact to Farmers' Participation in the Crop Insurance Program Resulting from Premium Subsidy Reductions May Be Minimal; CONCLUSION ; MATTER FOR CONGRESSIONAL CONSIDERATION ; AGENCY COMMENTS AND OUR EVALUATION ; APPENDIX I: OBJECTIVES, SCOPE, AND METHODOLOGY ; End Notes ; End Notes for Appendix I

Chapter 3 CROP INSURANCE: REDUCING SUBSIDIES FOR HIGHEST INCOME PARTICIPANTS COULD SAVE FEDERAL DOLLARS WITH MINIMAL EFFECT ON THE PROGRAM* WHY GAO DID THIS STUDY ; WHAT GAO RECOMMENDS; WHAT GAO FOUND ; ABBREVIATIONS ; BACKGROUND ; FEW CROP INSURANCE PARTICIPANTS WOULD HAVE BEEN AFFECTED IF SUBSIDIES WERE REDUCED FOR THE HIGHEST INCOME PARTICIPANTS FROM 2009 THROUGH 2013 ; About 1 Percent Would Have Been Affected if Subsidies Were Reduced for the Highest Income Crop Insurance Participants

Highest Income Crop Insurance Participants Insured More Farmland and Had More Premium Subsidies Provided on Their Behalf Than Other Participants

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters and index.

Description based on print version record.

ISBN:

1-63483-559-X