Leading farm-state senators say President Donald Trump’s budget proposal will have minimal impact on key farm programs like crop insurance. This is what an Iowa Senator says when it comes to cutting crop insurance.
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President Trump proposes to means-test crop insurance and reduce insurer underwriting gains for savings of some $33 billion over 10-years — steps opposed by American Farm Bureau Federation (AFBF) and other agriculture groups.
In the meantime, Senator Grassley (R-IA) favors White House efforts parallel to his, to close payment limit loopholes which allow non-farmer managers to get big payments.
Senator Grassley failed in the last farm bill effort to overcome southern lawmaker opposition to payment limits. The Trump budget proposes means-testing crop insurance and other commodity and conservation programs.
Lawmakers have until March 23rd to turn a two-year budget law into a massive spending bill to complete the fiscal year. Grassley says the lack of budget and spending figures is slowing a new farm bill, likely needed by August.
Grassley says Ag Committee leaders and their staffs have been talking with each other about the farm bill, but not to rank and file members. He warns, “time is fleeting” for a new farm bill.