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119-hr-3283119th CongressWALLET

FARMER Act

Sponsored By: Representative Finstad, Brad [R-MN-1]

Introduced

Summary

Boosts premium subsidies for enterprise-unit and whole-farm crop insurance. This bill would lower insurance costs for farms that use enterprise or whole-farm revenue or yield protection and would raise support for the Supplemental Coverage Option while directing a study on expanding SCO coverage options.

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  • Producers who choose enterprise-unit or whole-farm revenue or yield protection would receive set premium subsidy factors of 77% for the higher coverage level and 68% for the lower coverage level, cutting their premium share.
  • Farmers who buy the Supplemental Coverage Option would see its premium subsidy increase from 65% to 80%, reducing how much they pay for that coverage.
  • The Federal Crop Insurance Corporation would study whether SCO can cover counties larger than 1,400 square miles and whether to offer coverage smaller than county-wide or larger than individual coverage, and must report findings and recommendations to agriculture committees within one year.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Bigger supplemental coverage help for farmers

If enacted, the federal share of Supplemental Coverage Option (SCO) premiums would rise from 65% to 80%. Farmers who buy SCO would pay 15 percentage points less out of pocket. The bill would also change two SCO cutoffs: 14 would become 10, and 86 would become 90. These shifts could change how much SCO can cover in your area. Changes would take effect upon enactment.

More subsidy for enterprise and whole-farm insurance

If enacted, the government would pay more of your premium for certain plans. It would apply to individual revenue or yield protection plans on enterprise or whole-farm units. At coverage level F, the government would pay 77% of the premium. At coverage level G, it would pay 68%. Your out-of-pocket cost would fall by those shares once enacted.

Sponsors & CoSponsors

Sponsor

Finstad, Brad [R-MN-1]

MN • R

Cosponsors

  • Rep. Fischbach, Michelle [R-MN-7]

    MN • R

    Sponsored 5/8/2025

  • Rep. Smith, Adrian [R-NE-3]

    NE • R

    Sponsored 5/8/2025

  • Rep. Van Orden, Derrick [R-WI-3]

    WI • R

    Sponsored 5/8/2025

  • Rep. Bacon, Don [R-NE-2]

    NE • R

    Sponsored 5/8/2025

  • Rep. Newhouse, Dan [R-WA-4]

    WA • R

    Sponsored 5/8/2025

  • Rep. Jackson, Ronny [R-TX-13]

    TX • R

    Sponsored 5/8/2025

  • Rep. Feenstra, Randy [R-IA-4]

    IA • R

    Sponsored 5/9/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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