"Government Report Exposes Massive Insurance Subsidies for Big Farmers"

A Government Accountability Office report reveals that large farmers received millions of dollars in federal crop insurance subsidies, with some receiving over $3 million each. The federal crop insurance program, which aims to protect farmers against natural disasters and poor yields, saw its cost reach $17.3 billion in 2022, with $3.7 billion paid to insurance companies and agents. The report also highlights that the program lacks income or payment limits, allowing wealthy farmers to receive substantial subsidies regardless of their income. Critics argue that the program disproportionately benefits large farms while smaller farmers struggle to afford participation. The report recommends reducing subsidies for high-income farmers and adjusting compensation to insurance companies to align with market rates.