National Ag News
Bills introduced to eliminate harvest price crop insurance option
Nov 10, 2017, 16:42 PM
by
System
Bills introduced in both the House and Senate would eliminate a price floor subsidy option in crop insurance plans.
Introduced by Senators Jeff Flake of Arizona and Jeanne Shaheen of New Hampshire, the Congressional Budget Office says the Harvest Price Subsidy Prohibition Act would cut the crop insurance program by more than $21 billion. A similar bill has been introduced by Representative John Duncan of Tennessee.
The harvest price option gives farmers the ability to lock in a price floor for crop prices during February and October.
