New GAO Report Recommends Cut in Crop Insurance Subsidies | Taxpayers for Common Sense
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The report also confirmed that U.S. farms earn more than the average American household and have enjoyed high income and profits. Over the past several years. Nearly 80 percent of taxpayer-paid premium subsidies are for revenue policies, which cover dips in either crop yields or prices, instead of simply yield-based policies which pay out after catastrophic crop losses. On average, taxpayers pay 62 cents for every dollar of insurance coverage while producers pay the other 38 cents. GAO noted that the &ld...
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