Trump 2020 Budget to Lower Crop Subsidies for Insurance Premiums

USDA annual farm income chart

President Trump’s newly released budget for 2020 includes a 15 percent funding drop for the Department of Agriculture.

The plan would trim the USDA budget by $3.6 billion to $20.8 billion, lowering subsidies for crop insurance premiums to 48 percent from 62 percent, and limiting subsidies for growers who make less than $500,000 annually.

The president is seeking one of the largest-ever cuts to domestic discretionary spending in a $4.7 trillion fiscal 2020 budget proposal that also boosts defense spending and adds $8.6 billion for building a border wall.

Farm income has dropped dramatically since 2015 as can be seen the annual farm income chart above. Visit bloomberg to read the complete article, or click the following Trump to Farmers: ‘LOVE YOU!’ But I Still Want to Cut Your Subsidies