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Simplifying the farm safety net

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  • Bart L. Fischer
  • Henry L. Bryant
  • James M. Raulston
  • Joe L. Outlaw

Abstract

While the 2018 Farm Bill allowed producers to choose between Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) annually, those decisions can be quite difficult to make. The purpose of this paper is to explore options for simplifying (or eliminating) the decision between ARC and PLC. Specifically, we examine the cost of (1) giving producers the maximum of ARC and PLC and (2) simply giving producers both ARC and PLC. The results indicate the 10‐year cost of implementing either option costs far less than the recent short‐term, ad hoc assistance provided to producers over the past few years.

Suggested Citation

  • Bart L. Fischer & Henry L. Bryant & James M. Raulston & Joe L. Outlaw, 2022. "Simplifying the farm safety net," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(3), pages 1195-1203, September.
    • Handle: RePEc:wly:apecpp:v:44:y:2022:i:3:p:1195-1203
    DOI: 10.1002/aepp.13268
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    References listed on IDEAS

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    1. Fischer, Bart L. & Raulston, J. Marc & Bryant, Henry L. & Outlaw, Joe L., 2021. "Evaluating the New Agriculture Risk Coverage and Price Loss Coverage Elections for the 2021 Crop Year," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2021.
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