Federally Subsidized Crop Insurance

Dept. of Agriculture Risk Management Agency

Wildfire-Specific Spending: No

Wildfire Activities Funded: Recovery

Authorization:
P.L. 75-430

73,514
TOTAL APPROPRIATIONS (IN MIL)
FY2015 – FY2024

Description

The Federal Crop Insurance Program subsidizes insurance for agricultural production, primarily for crops such as corn, soybeans, wheat, and cotton, but also fruit, vegetables, seafood, tobacco, pasture, rangeland, and grass seed. Trees can be insured separately from the fruit of trees. In addition to covering yield losses from drought, flooding, and more, the program subsidizes indemnity payments for crop losses due to wildfires.

Additional Program Notes & TCS Insights

Crop insurance is heavily subsidized by the federal government and has few strings to adjust behavior to mitigate risk post-disaster. Poorly designed post disaster federal assistance programs can incentivize risky behavior, which will only add to the ever-growing future disaster assistance needs and liabilities.

Appropriations

Regular Supplemental IIJA IRA
FY2015 7,273,000,000 0
FY2016 4,157,000,000 0
FY2017 4,208,000,000 0
FY2018 6,445,000,000 0
FY2019 12,290,000,000 0
FY2020 9,358,000,000 0
FY2021 4,591,000,000 0
FY2022 8,438,000,000 0 0 0
FY2023 16,754,000,000 0 0
FY2024 0 0 0
FY2025 0
FY2026 0

Last Updated: October 17, 2024

Received Infrastructure Investment and Jobs Act (IIJA) Funding: No

Received Inflation Reduction Act (IRA) Funding: No

Appropriations Notes

This program receives direct/mandatory appropriations through the Farm Bill. Information provided in this database reflects actual outlays according to the Congressional Budget Office and USDA.