ByAnna Casey/Midwest Center for Investigative Reporting |
Earlier this month, the Government Accountability Office released a report that outlines its proposal for how the government can improve the crop insurance program’s delivery and reduce costs to the taxpayers who help fund it without passing those costs on to the farmer.
The effects of climate change on agriculture could cost the federal government as much as $4.2 billion more annually in crop insurance subsidies by 2080, a report released Wednesday by the Government Accountability Office found.
Without “ambitious action” to reduce greenhouse gas emissions, long-term effects of climate change will likely cost the U.S. government and American taxpayers tens of billions of dollars per year, a federal report released earlier this month has found.
Taxpayer money funding the federal crop insurance program, a main safety net for farmers, has more than doubled in just over a decade. As the country's budgetary problems grow, critics continue to label the insurance program as inefficient and expensive.
The federal crop insurance program has – once again – come under fire for giving farmers too many subsidies and costing the American taxpayer too much money. This time, the attempt to restructure what many in the agriculture industry refer to as the main “safety net for farmers” comes from the White House and Congress.
The amount of money that the government spends on expensive crop insurance subsidies has long come under criticism. This month, a federal report found that small cuts to premium subsidies could result in hundreds of millions of dollars in savings. The findings come as the national debt soars near $17 trillion, but farmers say the cuts would hurt business.
In recent years, crop insurance has become an increasingly controversial subject. While many support the program, others claim it sucks up too many taxpayer dollars. Reporters can use this guide to start their crop insurance research.