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Senate Votes to Reduce Crop Insurance Subsidies,Save Taxpayer Dollars
Senator Dick Durbin ^ | June 20, 2012 | Senator Dick Durbin

Posted on 06/22/2012 5:20:05 PM PDT by mdittmar

Coburn-Durbin Amendment would save $1.1 billion over 10 years

[WASHINGTON, D.C.] – Assistant Majority Leader Dick Durbin (D-IL) and Senator Tom Coburn, M.D. (R-OK) released the following statement today after the Senate accepted Coburn-Durbin amendment #2439 by a bipartisan vote of 66-33. This amendment is a reasonable step that asks our wealthiest farmers to cover more of their risk by reducing the level of federal premium support for crop insurance participants with an Adjusted Gross Income (AGI) over $750,000 by 15 percentage points for all buy-up policies beyond catastrophic coverage. Further, when fully implemented, this amendment would save more than $1.1 billion dollars over ten years.


“The very wealthiest of farmers are those most able to cover more of their own risk, yet we subsidize them at the same rate as we do the middle income and lower income farmers. This amendment is a reasonable reform to an unbalanced subsidy and gives us an avenue for tackling the debt by allowing us to save a billion dollars and not put anyone at risk.  We are encouraged our colleagues were able to reach across the aisle today and agree on this straightforward amendment,” said Durbin and Coburn.


Text of amendment #2439, here. Background on the amendment, here.

TOPICS: Constitution/Conservatism; News/Current Events; US: Illinois
and in other news,

Durbin Announces Over $6 Million in HHS Funding for Illinois Community Health Centers

Durbin, Quinn Announce $10.4 Million TIGER Grant for Rail Improvements

Durbin, Jackson, Rush and Emanuel Announce Chicago's 95th Street Station to Receive $20 Million Investment Through the TIGER Grant Program Terminal

1 posted on 06/22/2012 5:20:14 PM PDT by mdittmar
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To: Toddsterpatriot; Mase; expat_panama

$1.1 billion over ten years! LOLOLOL

4 posted on 06/22/2012 5:27:23 PM PDT by 1rudeboy
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To: 1rudeboy

1.1 billion dollars over 10 years , What a savings.

What part of 1.6 trillion dollars a year in debt is that?

5 posted on 06/22/2012 5:34:45 PM PDT by Venturer
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To: Venturer; Toddsterpatriot

I can’t handle that many zeros, I’ve forgotten how to use a calculator with scientific notation, and frankly, I could never handle math to begin with . . . .

6 posted on 06/22/2012 5:42:56 PM PDT by 1rudeboy
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To: Venturer; 1rudeboy

It’s a whopping 0.006875%.

7 posted on 06/22/2012 6:46:44 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

This is horrible. Why shouldn’t you be able to get the same benefits that others get just because you make more? You pay more in taxes, then have to pay more for college (for your kids), etc. and now this as well?

Coburn is becoming a RINO.

8 posted on 06/22/2012 7:59:17 PM PDT by GreaterSwiss
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To: mdittmar

if this idea lasts two years I’ll be amaazed. Remember “Freedom to Farm” that ended subsudies to all sorts of farm groups - that ended under Denny and Tom (the soon to be convict) Delay.

9 posted on 06/22/2012 8:21:07 PM PDT by q_an_a (the more laws the less justice)
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