World Perspectives

CBO Proposes Crop Insurance Spending Cuts

The Congressional Budget Office (CBO) issued a report, “Options to Reduce Budgetary Costs of the Federal Crop Insurance Program,” on 22 December. This is an exercise in presenting Congress with budget options, which the CBO does occasionally. It is essentially a laundry list of ways that Congress can reduce crop insurance spending via the farm bill. The options put forth would reduce spending by $47.5 billion over the next 10 years.

The report was not requested by any specific member of Congress, which is how many such efforts originate. However, these options follow a number of crop insurance reform plans introduced in Congress. The three biggest cost savings are: 1) eliminating the harvest price option; 2) reducing premium...

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Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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