H.R.2117 - Crop Insurance for Future Farmers Act (119th Congress)
Summary
H.R.2117, the "Crop Insurance for Future Farmers Act," aims to amend the Federal Crop Insurance Act to enhance crop insurance support for beginning and veteran farmers and ranchers. The bill extends the period for which farmers and ranchers can be considered "beginning" or "veteran" from 5 to 10 crop years. It also increases the percentage points of assistance provided to these farmers during their first ten years of participation in crop insurance programs.
Expected Effects
The bill will likely result in increased participation in crop insurance programs by beginning and veteran farmers and ranchers. This could lead to greater financial stability for these groups, encouraging them to remain in or enter the agricultural sector. The increased support tapers off over time, incentivizing long-term sustainability.
Potential Benefits
- Increased financial security for new and veteran farmers through enhanced crop insurance.
- Encourages new farmers to enter and remain in the agricultural sector.
- Supports veteran farmers, recognizing their service and contribution to the nation's food supply.
- Promotes long-term sustainability in agriculture by providing assistance over a longer period.
- May lead to increased agricultural production and a more resilient food system.
Potential Disadvantages
- Potential increased costs to the federal government due to higher insurance payouts.
- May create a dependency on government subsidies among some farmers.
- Could potentially distort the agricultural market by favoring certain farmers over others.
- The increased assistance may not be sufficient to address all the challenges faced by beginning and veteran farmers.
- The benefits may disproportionately accrue to larger farming operations.
Constitutional Alignment
The bill aligns with the general welfare clause of the Constitution (Preamble). Congress has the power to enact legislation that promotes the well-being of its citizens, including farmers and ranchers. Article I, Section 8, Clause 1 grants Congress the power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).