The House of Representatives has shown considerable wisdom in voting down the House Agricultural Committee’s proposed farm bill. The bill included an array of new economically wasteful price supports and crop insurance farm subsidy programs that could easily have been budget busters. It would have continued to transfer taxpayer funds to wealthy and very wealthy
The farm bill moving through Congress today provides a great reminder of how Washington works: Whenever you see a government subsidy for some sympathetic cause or group — such as the working man, green-energy, homeownership, or college — there’s a good chance that the financial industry is also pocketing taxpayer cash through the same
AEI’s Vincent Smith outlines some of the staggering amounts of cash the government pays to farmers, including $16 billion to $17 billion per year on average for farmers to buy crop insurance, while crop insurance companies get $2 billion to $3 billion on top of that. Subsidies to farmers average $7 billion per year while
The 2013 farm bill presents a real opportunity for substantive changes in U.S. agricultural policy. But instead of reform, both the House and Senate agricultural committees are offering classic bait-and-switch proposals to protect farm subsidies — more than 80 percent of which flow to households much wealthier than the average American family. As I discuss
As the House prepares to take up the farm bill this month, crop insurance and shallow-loss programs promise to be the subject of much debate. Though the House and Senate bills would discontinue the Direct Payments Program, each would continue overly generous crop insurance coverage and subsidies and institute new revenue protection programs for farmers.
The House agriculture committee passed its version of the 2013 farm bill on May 15. Like the Senate agriculture committee, the House agriculture committee is selling its bill as a bipartisan deficit-reduction measure that saves tax payer dollars on farm subsidy spending while introducing new programs to improve risk management for farmers. As the bill