Proposed Reforms to Farm Bill Agricultural Programs | Savings in FY2018 Request | Savings in FY2019 Request |
---|---|---|
Limit crop insurance premium subsidy to $40,000 | $16.2 billion | |
Eliminate the Harvest Price Option | $11.9 billion | |
Reduce crop insurance premium subsidies to an average 48 percent per-policy (currently government subsidies average 62 percent per-policy) | Not Included | $22.371 billion |
Limit subsidy eligibility to $500,000 AGI | $1.1 billion | $1.125 billion (Commodity) $0.724 billion (Crop Insurance) |
Streamline Conservation Programs – Regional Conservation Partnership Program and Conservation Stewardship Program | $5.755 billion | $13.042 billion |
Eliminate Small Programs | $3.1 billion | $.958 billion |
Reduce taxpayer subsidy for private crop infsurance company rate of return from 14% to industry average of 12% | Not Included | $2.988 billion |
Eliminate farm payment loopholes — including the separate payment limit for peanuts and payments to more than one manager per farm | Not Included | $1.348 billion |
Eliminate Livestock Forage Program | Not Included | $4.483 billion |
Total Proposed 10-Year Savings | $38.046 billion | $47.039 billion |
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