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Locked on 06/22/2012 6:25:03 PM PDT by Sidebar Moderator, reason:

dupe: http://www.freerepublic.com/focus/f-news/2898474/posts



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Senate Votes to Reduce Crop Insurance Subsidies, Save Taxpayer Dollars
Senator Tom Coburn ^ | Jun 21 2012 | Senator Tom Coburn,

Posted on 06/22/2012 5:56:25 PM PDT by mdittmar

(WASHINGTON, D.C.) – U.S. Senator Tom Coburn, M.D. (R-OK) and Majority Whip Dick Durbin (D-IL) released the following statement today after the Senate accepted Coburn-Durbin amendment #2439 by 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 putting anyone at risk.  We are encouraged our colleagues were able to reach across the aisle today and agree on this straightforward amendment,” said Coburn and Durbin .

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


TOPICS: Constitution/Conservatism; News/Current Events; US: Oklahoma
KEYWORDS: duplicate
Didn't see this posted;)
1 posted on 06/22/2012 5:56:32 PM PDT by mdittmar
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To: mdittmar
While technically you are posting this from a different source, here was an earlier thread from Senator Durbin on the same thing,

http://www.freerepublic.com/focus/f-news/2898474/posts

2 posted on 06/22/2012 5:59:23 PM PDT by I Drive Too Fast
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To: mdittmar
Senate Votes to Reduce Crop Insurance Subsidies,Save Taxpayer Dollars
3 posted on 06/22/2012 6:17:56 PM PDT by A.A. Cunningham (Barry Soetoro is a Kenyan communist)
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