Ag Wants Input on NAFTA fix and Crop Insurance
More than 130 farm groups and agribusinesses from around the country are asking President Trump to work with his administration during renegotiating of the North America Free Trade Agreement.
There is a lot at stake for U.S. farmers and ranchers looking to protect the increased trade they enjoy with Mexico and Canada because of NAFTA, and ag groups want to have input in how the trade pact is renegotiated.
Defenders of farm and nutrition programs are going to like the latest budget projections from the Congressional Budget Office.
They show the costs of crop insurance and the Supplemental Nutrition Assistance Program dropping sharply over the coming years.
Estimates for crop insurance spending have been lowered by about $8 billion from fiscal 2019 through 2016, a reduction of more than $1 billion a year.
Industry insiders say the reduction in crop insurance is due to two factors: lower premiums and a change in the projected loss ratio.