Thompson Aims to Lower Crop Insurance Costs in Upcoming Farm Bill

farm bill
farm bill
(Farm Journal)

In preparation for the upcoming farm bill, House Ag Chairman Glenn “GT” Thompson (R-Pa.) told Politico his intent to make crop insurance more affordable. Thompson said the committee is exploring various options to achieve this goal. “We need to look and see how do we make crop insurance more affordable and get more individuals to sign up for it,” Thompson said. When asked about where the money would come, presumably for higher premium subsidies, Thompson said: “I got lots of ideas for money.”

The primary focus is on increasing enrollment in crop insurance by reducing its cost for farmers. Currently, the government subsidizes about 60% of crop insurance premiums to encourage participation. While Thompson did not explicitly state that he aims to raise premium subsidies, he mentioned he has ideas for securing the necessary funds.

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