On the recordOctober 11, 2013
I thank the gentleman for yielding. Mr. Speaker, I rise today in support of the Ryan sense of the House resolution which would improve the 2013 farm bill by reducing insurance subsidies for the wealthiest producers, saving taxpayers almost $1 billion. The Senate bill includes a provision authorized by Senator Richard Durbin and Tom Coburn to reduce the level of crop insurance premium subsidies for participants with an adjusted gross income over $750,000 by 15 percent. The amendment was approved in the Senate on a bipartisan basis, 59-33. During the House consideration of the farm bill, I offered a companion amendment which was, unfortunately, not made in order. By supporting this sense of the House, our Chamber now has an opportunity to go on record to support this modest, very commonsense reform. The limitation is expected to impact only 1 percent of the wealthiest farmers in the entire country. The vast majority of farmers in our district will see no change in the level of premium provided by the Federal Government. Last year, the Federal Government spent $7 billion to cover 62 percent of crop insurance premiums. A 2012 GAO study found that 4 percent of the most profitable farmers accounted for nearly one-third of all Federal premium support. Now is the time to include modest means testing to reforms in crop insurance programs. I urge my colleagues on both sides of the aisle to support the Ryan sense of the House to protect taxpayers in the new farm bill.
