Representatives Michelle Fischbach (MN-07) and Brad Finstad (MN-01) 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.
Specifically, 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.
“The current practice of providing ad hoc assistance after a disaster is both inefficient and costly,” said Rep. Fischbach. “Our farmers deserve better, and I am proud to support the FARMER Act, which bolsters crop insurance affordability while providing improved coverage. These reforms will lessen the need for ad-hoc assistance while improving producers’ fundamental risk management tool.”
“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 Fischbach and Finstad, original cosponsors include Representatives Tracey Mann (KS-01) and Mariannette Miller-Meeks (IA-01).
Senator John Hoeven (R-ND) has introduced companion legislation in the U.S. Senate.
The FARMER Act is endorsed by the American Farm Bureau Federation, American Soybean Association, American Sugarbeet Growers Association, Crop Insurance Professionals Association, Crop Insurance and Reinsurance Bureau, Midwest Council on Agriculture, National Association of Wheat Growers, National Barley Growers Association, National Cotton Council, National Corn Growers Association, National Sunflower Association, Southwest Council of Agribusiness, U.S. Beet Sugar Association, U.S. Canola Association, U.S. Durum Growers Association, Western Peanut Growers Association, Minnesota Corn Growers Association, Minnesota Soybean Growers Association, and Minnesota Farm Bureau.
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