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Farm Bill Primer: Federal Crop Insurance (CRS Report for Congress)

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Release Date Sept. 17, 2018
Report Number IF10980
Report Type In Focus
Authors Isabel Rosa
Source Agency Congressional Research Service
Summary:

Since its inception in 1938, federal crop insurance has grown from an ancillary program with low participation to a central pillar of federal support for agriculture. From 2008 to 2017, the direct costs of the federal crop insurance program totaled about $74 billion in current dollars. For FY2018 through FY2027, the Congressional Budget Office (CBO) projects that crop insurance will cost about $77 billion, the highest projected cost for an individual U.S. Department of Agriculture (USDA) program not related to nutrition, assuming extension of current law (Figure 1).