U.S. Reps. Brad Finstad and Michelle Fischbach of Minnesota have introduced the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act, legislation that will strengthen crop insurance and make higher levels of coverage more affordable for producers.
In a press release, the legislators state that the FARMER Act would:
Increase premium support for higher levels of crop insurance coverage, which will enhance affordability and reduce the need for ad-hoc disaster assistance;
Improve the Supplemental Coverage Option (SCO) by increasing premium support and expanding the coverage level, providing producers with an additional level of protection, and;
Direct the Risk Management Agency (RMA) to conduct a study to improve the effectiveness of SCO in large counties.
“Farmers are part of one of the most honorable professions our country has to offer. For all farmers, crop insurance is their number one risk management tool, providing certainty for their businesses as they work to feed and fuel the world,” said Rep. Finstad. “The FARMER Act will make crop insurance more affordable, reducing the need for ad-hoc assistance when disaster strikes and ensuring that family farmers can pass their operations down to the next generation.”
In addition to Finstad and Fischbach, original cosponsors include Representatives Tracey Mann (KS-01) and Mariannette Miller-Meeks (IA-01).
Sen. John Hoeven (R-ND) has introduced companion legislation in the U.S. Senate.
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