U.S. Rep. Kind: Crop insurance reform needed in new farm bill
In a recent report the nonpartisan Government Accountability Office (GAO) found that insurance companies can earn hefty profits selling and servicing federal crop insurance policies, and USDA could reduce program costs by hundreds of millions of dollars by lowering the guaranteed profit insurance companies receive.
I've been working with Republican colleagues to change this unfair policy and shift away from a crop insurance system that helps powerful special interests at the expense of family farmers.
This new nonpartisan report shows yet again that the crop insurance program is in need of major reform. Unfortunately a large percentage of crop insurance subsidies go to a few, big agribusinesses, at the expense of our family farmers.
As we start discussing the next farm bill, I hope we can work together in a bipartisan way to make the crop insurance program more responsive to the needs of Wisconsin family farmers, consumers, and taxpayers.”
A number of the reforms that were recommended in the GAO report are included in Rep. Kind’s bipartisan legislation, the AFFIRM Act. The AFFIRM Act would help rein in the nearly $9 billion a year in federally subsidized crop insurance and bring crop insurance in line with every other federal subsidy available for agricultural businesses.