The federal “farm safety net” provides risk protection and financial support to U.S. farmers. The three components are the permanently authorized federal crop insurance program, farm commodity programs (crop years 2014-2018), and permanently authorized agricultural disaster programs. The 2014 farm bill (the Agricultural Act of 2014; P.L. 113-79) enhanced crop insurance, revised commodity programs, and retroactively authorized four disaster programs beginning in FY2012. During the next 10 years, the combined federal cost of the farm safety net is expected to average about $12 billion per year, based on estimates from the Congressional Budget Office. The U.S. Department of Agriculture (USDA) administers the programs. See Table 1 for details and a list of CRS reports.
Date of Report: May 13, 2014
Number of Pages: 2
Order Number: IF00025
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