Agricultural News
House Ag Committee Members Challenge USDA's Latest Crop Insurance Deal
Fri, 18 Jun 2010 7:20:19 CDT
The House Ag Subcommittee on General Farm Commodities and Risk Management held its first hearing on the 2012 Farm Bill Thursday - hearing from USDA’s Jim Miller - Under Secretary for Farm and Foreign Ag Services. Subcommittee Chairman Leonard Boswell says he appreciated the Under Secretary’s testimony. Boswell says one of his top priorities in the next farm bill is to build upon the nation’s current crop insurance programs so that they work for more producers in more regions of the country. Budgets are tight - Boswell notes - but he says tight budgets don’t mean jeopardizing the existing risk management tools or questioning what improvements should be made in the future.
Much of the hearing was spent on Crop Insurance- and the hearing turned into a bipartisan rebuke of USDA’s third and perhaps final draft Standard Reinsurance Agreement with the crop insurance industry.
Kansas Republican Jerry Moran challenged USDA’s authority to cap agent commissions under the new contract with crop insurance companies. Agriculture Under Secretary Jim Miller replied the limits are needed to protect taxpayers.
USDA officials in charge of the federally-subsidized crop insurance program are scheduled to meet with industry representatives Friday (June 18) in Kansas City.
We have an audio review of the hearing and this central topic of the day- Click on the Listen Bar below to hear the report we have for you with Stewart Doan.
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