| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Protect our Prairies Act, H.R. 686
This post Protect our Prairies Act, H.R. 686 originally appeared on Truth About Bills
The following was originally posted in the National Taxpayers Union Foundation’s Taxpayer’s Tab weekly newsletter on April 6, 2013. The Foundation’s BillTally project scores the potential spending of every introduced bill in Congress:
The Bill: H.R. 686, Protect our Prairies Act
Annualized Savings: $16 million ($82 million over five years)
When farmers convert virgin land for crop production, it can take several years for the soil to reach its maximum crop yield potential. Despite this, federal crop insurance programs based on acreage assume that covered farm lands that are new or seasoned would produce the maximum amount of food, or other agricultural products, from the start.
Congresswoman Kristi Noem (R-SD) and Congressman Tim Walz (D-MN) believe that the government should insure farmland at a more realistic level of productivity. They have re-introduced the Protect our Prairies Act to “reduce crop insurance assistance for the first four years for crops grown on native sod and certain grassland converted to cropland.” The sponsors hope that by decreasing the financial payouts, farmers would use the land that they have already developed. In theory, the land would remain undeveloped, providing for increased environmental conservation and, perhaps, allow for more space for hunting and fishing.
In March, the Congressional Budget Office (CBO) released an updated cost estimate of an agricultural reform package from the previous Congress that included this native sod proposal. CBO has determined that H.R. 686 would reduce federal crop insurance spending by $82 million in the first five years. The measure could save up to $178 million over ten years. Supporters of the proposal have stated that it would save $200 million; the National Taxpayers Union Foundation assumes that they are rounding up the 10-year figure in CBO’s cost estimate.
This post Protect our Prairies Act, H.R. 686 originally appeared on Truth About Bills
2013-04-09 13:31:56
Source:
