Flake, Shaheen Introduce Bill To Cut Insurance Subsidies and Save Taxpayers $4 Billion
The bill amends the Federal Crop Insurance Act to lower the Standard Reinsurance Agreement (SRA) rate of return from 14.5 percent to 9.6 percent. The SRA is an agreement negotiated between the
A reduction to 8.9 percent in the SRA rate of return was already included in the 2015 budget deal passed by
The bill also ends the provision prohibiting the
"With the national debt fast approaching an unprecedented
"The costs of the crop insurance program are skyrocketing unnecessarily," said Shaheen. "We can ensure protections for farmers without putting taxpayers on the hook to guarantee enormous profits for insurance companies. This bipartisan legislation will not impact insurance options available to farmers and will save taxpayers billions of dollars."
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Read this original document at: https://www.flake.senate.gov/public/index.cfm/press-releases?ID=F4DBDEE5-A592-4410-9CC0-429D89760A4A
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