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New federal crop insurance plan could replace old disaster aid
Secretary Bergland outlined a proposed all farm crop insurance program to replace the current mix of disaster payments and loans. It would insure 18 crops including corn, wheat, cotton, soybeans, and tobacco, with subsidies and premiums based on yield history and risk. Coverage levels A B and C offer 50 70 and 90 percent protection with varying deductions, costs estimated at about 542 million yearly, and full operation projected for 1980 with hearings to follow.
MENTIONED IN THIS ARTICLE
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FCIC
ASCS
Farmers Home Administration
Small Business Administration
Bergland
Rusk
Wisconsin
Fmha
U.S