Items Tagged with 'Agriculture Risk Coverage'

The House Agriculture Committee’s farm bill would boost the federal budget deficit by $33 billion over 10 years, according to an official cost estimate released Friday by the Congressional Budget Office, which refused to change its stance on a budget offset intended to fund changes to commodity programs.

The top Republican on the Senate Agriculture Committee, John Boozman, staked out his farm bill position Tuesday, releasing a proposed framework that largely mirrors the legislation Republicans pushed through the House Agriculture Committee last month.

Republicans pushed their $1.5 trillion farm bill through the House Agriculture Committee early Friday with the help of four critical Democratic votes, giving the massive legislation some momentum as it heads to an uncertain future in the full House.

Republicans on the House Agriculture Committee are proposing to raise Price Loss Coverage reference prices by 10% to 20% depending on the commodity, while also providing increased income protection to growers under the Agriculture Risk Coverage program and crop insurance, according to a section-by-section summary released Friday.

House Agriculture Committee Democrats have offered a counter proposal on the farm bill that suggests using USDA’s Commodity Credit Corporation funding authority to shore up commodity programs and crop insurance, according to a summary of the proposal obtained by Agri-Pulse.

Senate Agriculture Committee Chairwoman Debbie Stabenow expects to have $4 billion to $5 billion in new funding available to address issues with commodity programs and expand crop insurance options, she said in an exclusive interview with Agri-Pulse.