Brad Finstad (R-MN) and Michelle Fischbach (R-MN) introduced the Federal Agriculture Risk Management Enhancement and Resilience Act into the House last week. The FARMER Act is intended to strengthen crop insurance and make higher levels of coverage more affordable for producers.
The 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. It would improve the Supplemental Coverage Option by increasing premium support and expanding the coverage level, providing producers with an additional level of protection.
The legislation would direct the Risk Management Agency to conduct a study to improve the effectiveness of SCO in large counties. “Farming is one of the most honorable professions in our country,” says Finstad. “Crop insurance is their number one risk management tool, providing certainty they need to feed the world.” Senator John Hoeven (R-ND) introduced companion legislation in the Senate.
