In the massive, controversial October spending bill, North Dakota crop insurance took a major hit. The spending agreement pushed through Congress and passed in October included a staggering $3 billion cut to crop insurance.
This December, a group of Congress members, including both of North Dakota’s senators, are fighting to get the $3 billion cut reversed as soon as possible. North Dakota’s state senators both serve on the Senate Agricultural Committee, and believe they will succeed in restoring funding for North Dakota crop insurance by year’s end.
The Senators are trying to get the cuts reversed as part of a compromise in the latest Highway Bill, which is nominally meant to ensure funding for the nation’s transportation infrastructure. However, a compromise agreement could include a restoration of the $3 billion cuts.
Sadly, crop insurance has already been cut $12 billion since the financial crisis in 2008.
“We pretty much said we’re not going to vote for this budget if that remains in. We received assurances that that would be taken out,” said democratic Senator Heidi Heitkamp. “We were able to once again fulfill the obligations that we made in the Farm Bill on crop insurance.”
“Our farmers have taken reductions in crop insurance in the past, and that’s a very important program,” Republican Senator John Hoeven added. “So we’ll get that $3 billion restored in the Highway Bill, which I believe will get passed this week.”
Many North Dakota farmers rely on crop insurance provided by their local insurance agency. While most Americans hold some form of insurance, many don’t realize the importance of funding for crop insurance in rural states.
About 84% of drivers have car insurance, while 44% of U.S. households have a life insurance policy — and that’s a 50-year low. In surveys, 85% of consumers said life insurance is important, and 62% of them said they were current policy holders. Even renters insurance is growing in popularity.
Of course, there’s still time to reverse the cuts to North Dakota crop insurance. No matter what happens in Washington D.C., it’s as important as ever for farmers to invest in crop insurance. If you don’t have coverage, contact your local insurance agency for information.
