?In 2023, the U.S. federal government allocated approximately $11 billion in direct agricultural subsidies, marking a significant decrease from the pandemic-era peak of over $46 billion in 2020 .?
These subsidies encompass various programs, including:?
Crop Insurance Subsidies: Approximately $13.2 billion was allocated to the Federal Crop Insurance Program in 2023, providing coverage for $151 billion in crop value .?USDA
Commodity Programs: Programs like Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) provided financial protections to farmers, with payments estimated at more than $447 million for 2023 crops .?Cato Institute+2Farm Service Agency+2USDA+2
Farm Loans: The USDA budget included funding to support an estimated $10.7 billion demand for farm loans, assisting over 33,000 farmers and ranchers .?USDA
It's important to note that while these figures represent substantial federal support, the distribution of subsidies has been a topic of discussion. Between 2021 and 2023, farmers across the country may have received more than $55.2 billion through various federal farm support programs . Additionally, concerns have been raised about the concentration of subsidies among larger agribusinesses, potentially disadvantaging small and medium-sized farms .?EWG
Overall, while the total amount of agricultural subsidies has fluctuated over the years, they continue to play a significant role in supporting the U.S. agricultural sector.
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