Rep. Yoho Issues Statement on USDA Announcement for Hurricane, Wildfire Recovery Details
"Today is a good day for
Key Updates From USDA Website:
* Hurricane Recovery: To be eligible a crop, tree, bush or vine must be located in a primary disaster county with either a Presidential declaration or a Secretarial designation due to a 2017 hurricane. Crops, trees, bushes or vines located in other counties may also be eligible if the producer provides documentation the loss was caused by a 2017 hurricane.
* Wildfire Recovery: Any crop, tree, bush or vine, damaged by a 2017 wildfire is eligible.
* Eligible Producers: Eligibility will be determined on an individual basis, using the level of insurance coverage purchased for 2017 for the total crop acres on the area for which the WHIP application is made. Eligible producers who certify to an average adjusted gross income (AGI) of at least 75 percent derived from farming or ranching, including other agriculture and forestry-based businesses during the tax years 2013, 2014 and 2015, will be eligible for a
* Crop Insurance Requirement: Both insured and uninsured producers are eligible to apply for WHIP. However, all producers opting to receive 2017 WHIP payments will be required to purchase crop insurance at the 60% coverage level, or
* Acreage Reporting Requirements: In addition, for the applicable crop years, all producers are required to file an acreage report and report production (if applicable).
* Payment Formula: FSA will calculate WHIP payments with this formula:
Payment = Expected Value of the Crop x WHIP Factor - Value of Crop Harvested - Insurance Indemnity
The WHIP factor ranges from 65 percent to 95 percent. Producers who did not insure their crops in 2017 will receive a 65 percent WHIP Factor. Insured producers, or producers who had NAP, will receive between 70 percent and 95 percent WHIP Factors; those purchasing higher levels of coverage will receive higher WHIP Factors.
Other USDA Disaster Assistance
Drought, wildfires and other disasters continue to impact farmers and ranchers, and 2017 WHIP is just one of many programs available through
More Information:
FSA will hold a sign-up for 2017 WHIP no later than
Selective Reports Results for the First Quarter of 2018 – Net Income per Diluted Share of $0.32; Non-GAAP Operating Income(1) per Diluted Share of $0.46
Sen. Gillibrand Issues Statement on FEMA’s National Flood Insurance Program
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