Mar 14, 2019
From crop insurance to conservation programs and transportation, President Trump’s proposed budget would significantly slash programs vital to the soybean industry. Cuts to crop insurance and farm subsidies would be deep, totaling $28 billion over 10 years. This would directly impact soy growers in several ways: The majority of those savings would come from reducing the portion of farmers’ crop insurance premiums covered by taxpayers from 62 percent down to 48 percent. And, the President’s budget proposes to reduce the cap on Adjusted Gross Income (AGI) for recipients of Title I program payments from $900,000 to $500,000. This provision was included in the Senate version of the new Farm Bill and was not adopted by the Conference Committee.