Crop insurance enjoys widespread bipartisan backing on Capitol Hill. And this week, one high-profile leader, Senator Chuck Grassley (R-IA), was emphatic in his support, saying the recent floods in eastern Iowa serve as an important reminder why crop insurance is so essential.
Grassley recently surveyed the flood damage in several eastern Iowa cities, and discussed his experience on Money Matters, a program on the Iowa Agribusiness Radio Network.
“I saw debris and damage left by receding floodwaters, many homes underwater, preparations to mitigate flooding downstream and farmers surveying their flooded crops,” Grassley told program host Ben Nuelle.
Grassley says crop insurance, which is partially funded by farmers and delivered by the private sector, will be crucial for farmers whose crops flooded this year so close to harvest.
“With grain prices as low as they have been in years, that program will provide some relief to insure producers who will be forced to take a complete loss on their flooded fields. It is important reminder heading into the farm bill of the critical role crop insurance plays in the farm safety net.”
“Without crop insurance, some of the impacted farmers could be knocked out of the business altogether,” Grassley added. And that would be bad news for farmers, rural communities, and consumers alike.