(WASHINGTON DC) – Legislation that looks to strengthen crop insurance and make increased levels of coverage more affordable for producers has been reintroduced on Capitol Hill.
Senator John Hoeven (R-ND) has reintroduced the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act. The legislation is also cosponsored by Senators Roger Marshall (R-KS), John Boozman (R-AR), Mitch McConnell (R-Kentucky), Joni Ernst (R-Iowa), Cindy Hyde-Smith (R-Mississippi), Jim Justice (R-West Virginia), Chuck Grassley (R-Iowa), Deb Fischer (R-Nebraska), and Jerry Moran (R-Kansas).
“Crop insurance remains the number one risk management tool for our farmers, but it doesn’t provide the kind of affordable coverage options that all producers need. The result has been the repeated need for ad-hoc disaster assistance. Ultimately, producers buying higher levels of coverage will lessen the need for ad-hoc disaster assistance in the future,” said Senator Hoeven. “That means less emergency spending by the federal government, greater certainty for farmers and a more resilient ag economy. Those are wins across the board.”
“The FARMER Act is a major step toward ensuring the farm safety net stays intact and up to date for those who work tirelessly to provide us with food and fuel. I hear repeatedly from farmers in Kansas that crop insurance is the top priority in the Farm Bill because it provides a critically needed rapid response when disaster strikes,” said Senator Marshall. “Investing in crop insurance means protecting rural economies and securing our nation’s food supply.”
“Farmers must have the risk management tools they need to plan for the future. The Farmer Act would make critical improvements to the farm safety net and deliver support to producers across the country who rely on these programs. I appreciate Senator Hoeven for continuing to lead on this issue as we work provide certainty to America’s farm families,” said Senator Boozman.
“For decades, Nebraska’s ag producers have helped feed our nation and the world,” said Senator Fischer. “As Congress works to pass a Farm Bill, protecting and improving crop insurance for our farmers is one of my top priorities. I am proud to support this legislation to improve the farm safety net, and I look forward to working with Senator Hoeven and our colleagues to get this bill signed into law.”
Specifically, the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act, which Hoeven is working to include in the next farm bill, would:
- Increase premium support for higher levels of crop insurance coverage, which will 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.
- 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.
“The American Soybean Association applauds Senator Hoeven’s introduction of the FARMER Act, which takes meaningful steps to improve risk management tools for U.S. soy farmers,” says American Soybean Association President and Kentucky soybean farmer Caleb Ragland. “By enhancing the affordability and accessibility of crop insurance, this bill will better protect farmers from unpredictable losses while our rural economy faces historic financial challenges. ASA is proud to support this legislation and looks forward to continued work with Senator Hoeven and his colleagues on farm safety net issues.”
“Increasing the affordability of crop insurance is a key farm bill priority for corn growers, and the FARMER Act would make higher levels of coverage more affordable,” said National Corn Growers Association President Kenneth Hartman Jr. “Sen. Hoeven continues to lead efforts to ensure that these risk management tools will be improved to meet the challenges producers face today.”
“Crop insurance is an essential safety net for farmers across the country,” according to Neil Rockstad, American Sugarbeet Growers Association president and farmer from Ada, MN. :We’ve continued to make strides in the effectiveness of sugarbeet policies in recent years. We are grateful for the work that Senator Hoeven has done to further improve this valuable tool for growers. He is a steadfast champion of agriculture and we thank him for his ongoing support.”
“Crop Insurance is key to a functional farm safety net and farmers have consistently advocated for more comprehensive solutions to risk management,” says American Farm Bureau Federation President Zippy Duvall. “The FARMER Act is a direct result of that advocacy and we commend Senator Hoeven for remaining steadfast in his dedication to seeing this included in the next Farm Bill.”
This legislation is supported by 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, U.S. Durum Growers Association, North Dakota Corn Growers Association, North Dakota Farmers Union, North Dakota Grain Growers Association, North Dakota Soybean Growers Association, Northharvest Bean Growers Association, Minnesota Corn Growers Association, Minnesota Farm Bureau, Minnesota Soybean Association, Southwest Council of Agribusiness, and Western Peanut Growers Association.
A summary and the full bill text of the legislation can be found here and here, respectively. Statements of support can be found here.
SOURCE: Senator Hoeven Press Release
