Capping Crop Insurance Subsidies

Here's the page from the Congressional Record containing the amendment to cap the federal subsidy on crop insurance premiums.  Essentially if the producer is over $750K AGI according to FSA at the beginning of the crop year, the subsidy is whacked 15 points.  The Secretary can waive the requirement.

Though I'm populist and liberal enough to like the concept, there's some issues there.

• Getting congruence between the FSA records and the reinsurance year, given that different crops have different dates and different terms.
• Getting congruence between FSA "producers" and FCIC "insureds" (though that may be a problem which RMA and FSA have already worked out.
• the tipping point.  If a producer goes over AGI by one dollar, he may lose much more in subsidy

[Rural Blog on the amendment.]