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Policy Plate BLOG

Your daily serving of food and farm policy.

Crop Insurance For Billionaires?

Thursday, November 7, 2013

A report released today, authored by EWG’s Alex Rindler, found that at least 50 billionaires or the farm businesses they had financial interests in received a total of $11.3 million between 1995 and 2012. 

More than 40 of these billionaires’ own properties that grow crops that are among the most likely to be insured through the federal crop insurance program.  But we have no way of knowing as current law prohibits the disclosure of the identities of crop insurance policyholders.

Unlike traditional farm subsidies, crop insurance is also exempt from means testing, payment limits or conservation requirements.  And proposed changes adopted in both the House and Senate versions of the bill will likely allow these billionaires to bank millions more in premium subsidies.

Read the full report why crop insurance should be subject to the same rules as other farm programs here.

Table Scraps:

See more coverage of EWG’s report on the billionaires who received subsidies in: The New York Times, Bloomberg News, Forbes, Daily KosHuffington Post, Opposing Views, and Newsmax.

Tweet of the Day: @TrueFoodNow @ColbertReport takes on #GMO labeling and nails it. http://www.colbertnation.com/the-colbert-report-videos/430271/november-0... …

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