THE FARM BILL AND REFORMING CROP INSURANCE -- (House of Representatives - July 26, 2007)
Mr. COOPER. Mr. Speaker, the one thing that we should all be able to agree on in this House regarding the upcoming farm bill is the need to reform crop insurance. The folks back home are demanding that we cut Federal spending, and this is not only a great way to do it, it is probably the best way to do it.
There are only 16 crop insurance companies in America, but, sadly, each one is addicted to corporate welfare from Washington. Reforming these companies can save at least $2 billion a year without hurting a single farmer. Let's stop these middlemen from taking 40 cents out of every dollar the taxpayers offer to help the American farmer.
The Cooper-Waxman-McGovern amendment unites this House, from conservative Blue Dogs to progressive Members. It is a bipartisan approach. We simply adopt the reform proposals of the Bush administration. That is all we do. These are not radical ideas; these are USDA approved. But these ideas will save over $2 billion a year. It won't kill the industry; it will just trim back the massive subsidy flows.
Farm bill supporters should also endorse these because they reduce the
need for new revenue, and the Agriculture Committee itself recognizes the need for reform. They just want to do it in the next farm bill.