U.S. Reps. Randy Feenstra (R-IA) and Angie Craig (D-MN) introduced legislation that seeks to enhance crop insurance protections for farmers, particularly beginning farmers.
Specifically, the Crop Insurance for Future Farmers Act would align the definition of “Beginning Farmer” to match most other beginning-farmer programs, extending crop and livestock insurance protections to 10 years for new and beginning farmers. This increase to 10 years would apply to all federal crop insurance programs, including livestock policies.
Currently, the definition constitutes only five years of enhanced crop insurance protections. With rising costs, softening commodity prices, and uncertainty threatening the farm economy, farmers need a strong safety net and crop insurance serves as the best tool in a farmer’s toolkit to manage the risk they face on the farm.
“To keep our farmland in the hands of Iowa farmers and away from China and our foreign adversaries, we need to cut operating costs for our young and beginning farmers so that they can grow, compete, and succeed – instead of calling it quits because of financial barriers,” Feenstra said. “That’s why I introduced the Crop Insurance for Future Farmers Act to lower the cost of crop insurance for the next generation of Iowa farmers during their first ten years in operation – the most vulnerable of any business. This relief will help our young producers plant their roots in our rural communities, promote farm profitability, and strengthen Iowa’s status as the breadbasket to the world.”
In 2022, the United States had 1,011,715 producers who were identified as beginning farmers or ranchers – that accounted for more than 30 percent of the country’s producers.
“New, beginning and veteran farmers rely on farm safety net programs like crop insurance to get their feet underneath them and build successful operations,” Craig said. “I’m proud of the bipartisan work Rep. Feenstra and I are doing to support new and beginning farmers and implement commonsense policies that will help generations of family farmers not only survive but thrive.”
U.S. Senator Majority Leader John Thune (R-SD) and Ranking Member of the Senate Agriculture Committee U.S. Senator Amy Klobuchar (D-MN) introduced companion legislation in the U.S. Senate
“Investing in future generations of farmers and ranchers is critical to growing South Dakota’s agriculture economy and supporting rural communities,” Thune said. “Crop insurance is the cornerstone of the farm safety net, and I’m proud to lead this legislation that would improve its effectiveness for beginning farmers and ranchers by providing more affordable options during their first 10 years of operation.”
The bill also has the support of the American Association of Crop Insurers (AACI), Crop Insurance Professionals Association, and the Crop Insurance and Reinsurance Bureau.
“AACI applauds Representatives Feenstra and Craig’s ‘Crop Insurance for Future Farmers Act.’ This legislation is a step in the right direction to protect the future of farming by extending insurance protections to encourage the new generation of farmers America needs,” Dale Perry, chairman of the AACI, said.