Senate Agriculture Committee Members Chuck Grassley (R-Iowa) and John Hoeven (R-N.D.) reintroduced the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act to strengthen crop insurance and make higher levels of coverage more affordable for producers.
“A strong crop insurance program is vital to the success of America’s farming operations. Yet, when disaster strikes, many farmers find themselves without adequate coverage. By ensuring farmers have access to the coverage they need, our bill would provide certainty and help alleviate the need for costly, future ad-hoc federal assistance,” Grassley said.
Specifically, the legislation would:
- Increase premium support for higher levels of crop insurance coverage, which would enhance affordability and reduce the need for future ad-hoc disaster assistance;
- Improve the Supplemental Coverage Option (SCO) by increasing premium support and expanding the coverage level, providing producers with an additional level of protection;
- Direct the Risk Management Agency (RMA) to conduct a study to improve the effectiveness of SCO in large counties, and;
- Not require producers to choose between purchasing enhanced crop insurance coverage or participating in Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs, giving them flexibility to make decisions that work best for their operations.
Additional cosponsors include Agriculture Committee Chairman John Boozman (R-Ark.), along with Sens. Mitch McConnell (R-Ky.), Joni Ernst (R-Iowa), Cindy Hyde-Smith (R-Miss.), Roger Marshall (R-Kan.), Jim Justice (R-W.Va.), Deb Fischer (R-Neb.) and Jerry Moran (R-Kan.).
The legislation is supported by the American Farm Bureau Federation, American Soybean Association, American Sugarbeet Growers Association, Crop Insurance and Reinsurance Bureau, Crop Insurance Professionals Association, Farm Credit Council, Midwest Council on Agriculture, National Association of Wheat Growers, National Barley Growers Association, National Corn Growers Association, National Cotton Council, National Sunflower Association, USA Dry Pea and Lentil Council, U.S. Beet Sugar Association, U.S. Canola Association and U.S. Durum Growers Association.
Source : senate.gov