By Scout Nelson
Senator John Hoeven, along with other Senate Agriculture Committee members, introduces the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act. The legislation aims to strengthen crop insurance and make higher levels of coverage more affordable for producers across the country.
Key provisions of the FARMER Act include:
- Increasing premium support for higher levels of crop insurance coverage to enhance affordability and reduce the need for ad-hoc disaster assistance.
- Improving the Supplemental Coverage Option (SCO) by increasing premium support and expanding coverage levels.
- Directing the Risk Management Agency (RMA) to conduct a study to enhance the effectiveness of SCO in large counties.
- Providing producers with flexibility to choose between enhanced crop insurance coverage and participating in Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs.
Senator Hoeven emphasizes the importance of crop insurance as a crucial component of the farm safety net. He states, “Crop insurance is an essential piece of the farm safety net, providing farmers with their most important risk management tool as they work to continue providing Americans with the highest quality, lowest cost food supply in the world.”
The legislation is supported by various agricultural organizations, including the American Farm Bureau Federation, American Soybean Association, and National Corn Growers Association.
Through the FARMER Act, Senator Hoeven aims to improve the affordability and effectiveness of crop insurance, contributing to a more resilient agricultural economy and reducing the burden on taxpayers.
Photo Credit -gettyimages-sisoje
Categories: North Dakota, Crops