Ernst says she will vote against it but believes the deal will pass. The House will vote on the budget Wednesday. John Boyd, president of the National Black Farmers Association, and Scott Faber, vice president of government affairs of EWG, released the following joint statement on a critical crop insurance reform included in the budget deal the House will consider today. "To target the No. 1 priority for producers with additional cuts will undermine the delivery of this important protection for agriculture". The Republican from Red Oak says the bill could hurt farmers
WASHINGTON (AP) - The two-year budget deal produces savings from one of the most popular programs in farm country - federally subsidized crop insurance - and farm state lawmakers are furious. "You have a lot of folks who don't work the ag side of policy out here, that don't understand how crucial the $3 billion is ... I will continue to oppose any attempts to cut crop insurance funding or to change crop insurance program policies". Cowan points out that the USA farm economy is not in the same shape it was just three years ago "when we began the process of writing the farm bill". So, I'm very disappointed in this deal. The crop insurance cuts, which would come over 10 years, are achieved by cutting the rate of return for insurers from 14.5 percent to 8.9 percent. The budget agreement, which aims to end the need to vote on a debt ceiling increase until 2017 (after the next Presidential election), would also offer up $80 billion in discretionary funds for defense and other programs. "The overall impact would be to flush insurance companies out of the business", Conaway said. I don't think this is what Iowans want. (Global Atlantic Financial Group Ltd insurance unit) sold their crop insurance operations. "No", Abraham said. "But I'm going to do everything I can to make sure the president and the Republican leadership keep their word and fix this problem that they created". "Cuts to the crop insurance program will lead to fewer insurance providers and agents, and that means fewer choices for farmers to manage their risk". "In addition, it also indicates that the Standard Reinsurance Agreement must be renegotiated by December 31, 2016 and once every five years thereafter". It is about eliminating Federal Crop Insurance,"said Chairman Conaway".
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