Daily News Reports »

KayDee Gilkey Proposed Changes to Crop Insurance Programs
by KayDee Gilkey, click here for bio

Program: Farm and Ranch Report
Date: June 15, 2017

Click on the play button to listen to report.

Download Report: Proposed_Changes_to_Crop_Insurance_Programs.mp3

CliftonLarsonAllen Principle and Farm CPA Today blogger Paul Neiffer speaks to what has been proposed by President Trump in his budget when it comes to crop insurance.

Neiffer: “President Trump’s budget proposal has some fairly major changes proposed for crop insurance. But in the current proposal they are talking about having a mean testing that if your average gross income as a farmer is over $500,000 that you might not receive any subsidy at all on crop insurance or they would actually cap the subsidy at $40,000. So if you currently get a $100,000 premium subsidy you now would only now get $40,000 subsidy. They are also talking about eliminating the harvest price election, where you can actually get paid the harvest price if it is higher than the discovery price at the beginning of the season. That actually raises quite a bit of money — both of those proposals — I think raise about $2 to $3 billion over a 10-year period which in the long run isn’t that big deal for the budget. But it something where they start at sort of the worse case and and it ends up being not quite as bad.’

To read more of Neiffer’s informative blog — go to farmcpatoday.com

Recent Reports from Farm and Ranch Report

Click here to see Archived Reports