Following the introduction of revenue-based insurance policies in the 1990s, their use increased to cover the largest share of enrolled acres. With prices rising again in 2021, premiums and subsidies have followed.
These expenditures include support to crop-insurance companies for delivery and underwriting, as well as subsidies for farmer premiums.Īs prices for several major commodities fell from their peaks in 2012-13, premiums and subsidy expenditures correspondingly dropped, since premium calculations depend in part on expected prices and subsidies are a set percentage of the premium. Under the 2018 Farm Act, crop-insurance-program expenditures were projected to comprise almost 9 percent of total outlays over 2019-23. Details on food and nutrition-assistance-program spending can be found at ERS Ag and Food Statistics: Charting the Essentials, Food Security and Nutrition Assistance.Ĭrop insurance. Mandatory nutrition-program spending was projected to account for more than 75 percent of 2018 Farm Act outlays. Four policy areas dominate projected spending under the 2018 Farm Act: Many research and rural-development programs are funded in this way.ĬBO projections include only programs authorized with mandatory funding in the Farm Act. Once program expenditures reach the level appropriated for that year, no additional funds can be spent unless Congress provides new appropriations. Programs authorized with discretionary funding may be funded up to the level provided by legislation, but Congress may change the funding level each year for these programs. Examples of Farm Act programs provided with mandatory funding include the Supplemental Nutrition Assistance Program (SNAP) as well as most commodity and conservation programs.ĭiscretionary funding. Congress can alter mandatory-funding levels at any time through new legislation, but there is no automatic reconsideration during the span of the Farm Act. Government costs under these programs may vary from year to year, depending on program-participation levels and economic conditions. Spending is not constrained by annual limits. Programs authorized with mandatory funding are provided funds as needed (or to a statutory level) through the Commodity Credit Corporation (CCC) and are not subject to annual appropriations decisions by Congress. The 2018 Farm Act authorizes two kinds of program funding:
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