The Crop Insurance Coalition is asking Ag Secretary Sonny Perdue and the Office of Management and Budget to oppose crop insurance cuts as the Trump Administration develops its fiscal year 2021 budget. The Hagstrom Report says the coalition sent a letter to President Trump and OMB Acting Director Russel Vought, saying, “For good reason, the state of the agricultural economy has been the subject of numerous hearings, reports, and media coverage. Cash crop receipts have dropped more than $34 billion since 2012.”
They point out that despite a recent bump in net farm income this year, net farm income is still down $44 billion from 2013 in inflation-adjusted dollars. Multiple hardships have taken a big toll on farm families all over the country, with farm bankruptcies up 24% from last year.
“Given the state of the ag economy,” the coalition writes, “now is not the time to make cuts to crop insurance, a program that farmers have described over and over as a linchpin of the farm safety net.” It provides predictable, on-budget assistance to farmers in a way that helps lenders continue to support American farmers and ranchers.
The Crop Insurance Coalition Is made up of 57 national farm, lending, ag input, conservation, and insurance organizations.
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