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Crop Insurers Comment on Senate Farm Bill

July 2012

The following statement regarding the Senate’s Farm Bill passage should be attributed to the American Association of Crop Insurers and the Crop Insurance and Reinsurance Bureau.

“The approval of bipartisan legislation is no small feat in today’s political environment, and Chairwoman Debbie Stabenow (D-MI) and Ranking Member Pat Roberts (R-KS) should be applauded for crafting a bill able to pass by such a wide margin.

“While the bill that came out of the Senate is not perfect, it is a very important step in the process and it puts crop insurance on strong footing for the future.

“Farmers from across the country, agribusinesses, and the nation’s lending community sent a unified message to Congress this year: Do no harm to crop insurance. We will work hard as the Farm Bill moves to the U.S. House of Representatives to ensure that the final Farm Bill package meets that simple test.

“Crop insurance helped agriculture survive one of the worst weather years on record in 2011, eliminating the need for expensive, off-budget bailouts. As crop insurance takes a more prominent role in risk management strategies for farmers and ranchers, Congress should look for ways to strengthen crop insurance, not weaken it. Saddled with new regulatory burdens, $12 billion in funding reductions since 2008, and historic indemnity payouts, the crop insurance system is already strained and cannot absorb additional attacks.”

 

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June 27, 2012