Options to Reduce the Budgetary Costs of the Federal Crop Insurance Program

Congressional Budget Office

No 53375, Reports from Congressional Budget Office

Abstract: The federal crop insurance program helps protect agricultural producers from losses by offering insurance for their crops—principally corn, soybeans, wheat, and cotton. Federal spending on the program has averaged about $9 billion annually over the past five years. That spending has mostly gone toward premium subsidies for agricultural producers; a smaller portion reimburses private insurance companies for the administrative and operating costs of providing crop insurance. The government also shares in those companies’ losses and gains from the policies.

JEL-codes: Q18 (search for similar items in EconPapers)
Date: 2017-12-22
New Economics Papers: this item is included in nep-agr and nep-ias
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Citations: View citations in EconPapers (1)

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