Latest draft of crop insurance agreement cuts $6 billion, invests in deficit reduction and CRP

The U.S. Department of Agriculture released the third and final draft of a new agreement with the nation’s crop insurance industry today, which includes $6 billion in cuts. About $4 billion of those savings will be directed to deficit reduction, while the remaining $2 billion will be invested in expansion of the Pasture, Rangeland, and Forage program; providing a performance discount or refund for qualified producers; increasing Conservation Reserve Program (CRP) acreage to the maximum authorized level of 32 million acres, investing in new and amended Conservation Reserve Enhancement Program initiatives; and investing in CRP monitoring.