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Trade Groups Oppose Limits on Federal Crop Insurance

Posted on 5/31/2012

ABA, ICBA, and the Farm Credit Council wrote to the Senate Agriculture Committee this morning regarding the importance of the Federal Crop Insurance program, stating that we will oppose any amendments to the Farm Bill when it goes to the Senate floor that would limit farmer participation.

"When the Farm Bill moves to the floor of the Senate we will oppose any amendments that would limit participation in the program by producers, including efforts to impose means testing on producers, limit premium support, and any other efforts to increase the regulatory burden on the farmers and ranchers who buy Federal crop insurance," our joint letter said. "Federal crop insurance provides producers with an opportunity to buy an effective tool to manage their risk, and it provides lenders with greater certainty that loans made to producers will be repaid."

ABA Chairman-Elect Matt Williams testified about the importance of the Federal Crop Insurance program before a House Agriculture subcommittee earlier this month.

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