USDA to cut subsidies as insurers post big profits
MINNEAPOLIS -- The federal government wants to save taxpayers billions of dollars by reducing spending on crop insurance after years of big profits by insurers, but the industry claims the reductions could hurt rural areas.
The U.S. Department of Agriculture is negotiating a new deal with crop insurance companies, which posted profits of 26.4 percent last year.
Are you a newspaper subscriber but you don't have a Digital Access account yet? You can activate your account here: Activate All Access.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at email@example.com and we can help you.