Senator John Boozman, ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, released a legislative framework that outlines Senate Agricultural Committee Republicans’ priorities, including an expanded farm safety net. It serves as a counter-proposal to the Democratic farm bill framework.

The GOP proposal calls for an average 15% increase in Price Loss Coverage (PLC) reference prices to account for higher input costs. According to the framework, the effective reference price in any given year would be 88% of the five-year Olympic average market price for the commodity, capped at 25% above the statutory reference price.

Specifically for our readers, the GOP Senate framework for Title XI responds to historic volatility in the farm economy and increasing catastrophic weather events by making crop insurance more affordable, more effective and available to more producers. Read the full Republican Framework of Title XI – Crop Insurance here.

Other highlights include:

>> Premium subsidies for the Supplemental Coverage Option are increased and the top coverage level is raised to 90%
>> Doubles funding for the Market Access Program and Foreign Market Development Program
>>Direct and guaranteed operating and ownership loan limits would be increased
>> States would be barred from imposing production standards on livestock products produced in other states.

Unfortunately, the GOP farm bill framework could split the broad farm bill coalition according to Senate Ag Chairwoman Debbie Stabenow.

Read more on the Senate GOP farm bill framework here.