USDA Budget Looks to Change Crop Insurance

The USDA has released the 2018 fiscal budget proposal and it includes some major changes to the crop insurance program.

Acting Deputy Undersecretary Mike Young said those changes would be legislative.

“One would target insurance crop insurance subsidies for those producers who have an adjusted gross income of $500,000 or less, establish a limit of $40,000 for premium subsidies that an individual or entity may receive and then eliminate the subsidized harvest price revenue coverage.”

The savings over 10 years would surpass $28 billion. The proposed changes would need to be approved by Congress and would not impact current crop insurance levels.