—Will the Changes Affect Your Bottom Line?
The President’s new budget has been set and released to the public. It is aggressive and pushes for more progressive causes aimed at laying down markers for Democrats. Food and agriculture were included in this budget proposal, although, like every budget, no one knows for sure if they will happen! Whether or not they become a reality, as a farm owner in Louisiana, you need to be aware of these changes and how they could impact your bottom line.
What are the Proposed Budget Changes for 2016?
There are a few things in the measure that specifically impact agriculture and farm land. From antibiotic resistance efforts to summer feeding program money and renewable fuels, here are a few takeaway points to note:
- Crop Insurance – The program aims to reduce costs for farmers to protect their crops, but cuts to the programs have also been proposed.
- Independent Food Safety Agency – This is a big change. In 2015, it was proposed that a single agency be used for all food safety programs. It was aimed to combine the USDA Food Safety and Inspection Service and move them under the purview of the HHS. Republicans are not as warm to the idea as of yet, but plenty of Democrats are backing the change.
- Food Safety Laws – Some information appears to have leaked about the EPA’s funding and money to implement a new food safety law. This may revolutionize the way protocols are put into place and how foodborne illness breakouts are handled.
- Renewable Fuels – As always, the White House is a big supporter of renewable fuels. They want more farms and agricultural businesses in the United States to rely on renewable energy and receive tax credits for upgrading their farms to become more energy-efficient.
- Research Grants – Research grants are underway for agricultural businesses. They will look into things such as hormones, antibiotic resistance among animals, and so on.
Protect Your Farm, Regardless of Budget Constraints
Regardless of what the President is proposing in the 2016 budget, there are steps you can take to protect your own livelihood. < href="http://www.nowellagency.com/locations-old/geography-served/louisiana-insurance/">Louisiana farm insurance can protect everything you have worked so hard to build in your farming business. Speak with a broker at The Nowell Agency today regarding your current farm insurance policy or to get started with purchasing a new one.
To discuss your Louisiana farm insurance, call our local office at 888-675-1842. You can also request a quote online for farm insurance.