Washington D.C. — Proposed budget cuts by the Trump administration have those in the agriculture community taking notice.
The proposals include limiting crop insurance and adding more food inspection fees. In all, United States Department of Agriculture spending would be cut by $228 billion over a 10 year period. The plan also includes eliminating an insurance policy available to farmers that guarantees farm revenues based on harvest prices, instead prices projected before planting, when harvest prices are higher, that would save $11.9 billion over 10 years. These ideas have received limited support over the years by a few lawmakers.
The roadmap to achieve Trump’s goal of balancing the budget in 10 years also includes increases in pesticide licensing fees and limits on commodity support programs.
Gary Truitt from Hoosier Ag Today says, “Balancing the federal budget will good for agriculture, and there will be some program cuts, but not to degree proposed.”
The plan to balance the federal budget in 10 years is based on three percent growth in GDP, another assumption lawmakers and economists are skeptical about.
