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