Obama’s budget cuts not only direct payments but targets other safety net programs. Crop insurance subsidies would be cut by $7.6 billion through 2022, according to Reuters. A disaster-relief fund, scheduled to expire this year, would remain.
Focusing on the crop insurance program is a priority for many farm groups. “We want to make sure that the crop insurance plan… is robust and keeps focused on those risk management tools as a critical part of farmers’ risk management safety net,” said Dale Moore, American Farm Bureau public policy specialist.
Meanwhile, the Senate and House agriculture committees are due to produce a 2012 Farm Bill this year. However, the job is facing increasing difficulty amid election year politics.
Source: Reuters, NFU, Pat Roberts, American Farm Bureau