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Agriculture Risk Coverage: Difference between revisions
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(Created page with "{{Program |ProgramName=Agriculture Risk Coverage |ProgramType=Program |OrgSponsor=Farm Service Agency |TopOrganization=Department of Agriculture |CreationLegislation=Agricultural Act of 2014 (Public Law 113-79), Agricultural Improvement Act of 2018 (Public Law 115-334) |Purpose=The Agriculture Risk Coverage (ARC) program, administered by the U.S. Department of Agriculture (USDA) through its Farm Service Agency (FSA), provides revenue-based financial assistance to farmers...") |
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|TopOrganization=Department of Agriculture | |TopOrganization=Department of Agriculture | ||
|CreationLegislation=Agricultural Act of 2014 (Public Law 113-79), Agricultural Improvement Act of 2018 (Public Law 115-334) | |CreationLegislation=Agricultural Act of 2014 (Public Law 113-79), Agricultural Improvement Act of 2018 (Public Law 115-334) | ||
|Purpose= | |Purpose=Agriculture Risk Coverage program, run by the U.S. Department of Agriculture through its [[Farm Service Agency]], aids farmers against crop revenue drops, stabilizing income and supporting sustainability for crops like corn and soybeans nationwide. | ||
|Website=https://www.fsa.usda.gov/programs-and-services/arc-plc/index | |Website=https://www.fsa.usda.gov/programs-and-services/arc-plc/index | ||
|ProgramStart=2014 | |ProgramStart=2014 | ||
|InitialFunding=$1 billion | |InitialFunding=$1 billion | ||
|Duration=Ongoing | |Duration=Ongoing | ||
|Historic= | |Historic=No | ||
}} | }} | ||
The '''Agriculture Risk Coverage (ARC)''', established in 2014 under the Agricultural Act of 2014 and expanded by the Agricultural Improvement Act of 2018, is administered by the Department of Agriculture (USDA) through its Farm Service Agency (FSA) to provide revenue guarantees to farmers, allocating over $30 billion since inception to support approximately 1.2 million farms annually by 2025. Initially funded with $1 billion, it has grown to distribute $3 billion in FY 2024 across 1.2 million policies, insuring crops like corn and soybeans at farms nationwide.<ref>{{cite web |url=https://www.fsa.usda.gov/programs-and-services/arc-plc/index |title=Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) |publisher=U.S. Farm Service Agency}}</ref> Despite its impact, challenges like funding competition, complex eligibility, and program uptake persist (web ID: 4), but it remains a cornerstone of USDA’s risk management efforts. | The '''Agriculture Risk Coverage (ARC)''', established in 2014 under the Agricultural Act of 2014 and expanded by the Agricultural Improvement Act of 2018, is administered by the Department of Agriculture (USDA) through its Farm Service Agency (FSA) to provide revenue guarantees to farmers, allocating over $30 billion since inception to support approximately 1.2 million farms annually by 2025. Initially funded with $1 billion, it has grown to distribute $3 billion in FY 2024 across 1.2 million policies, insuring crops like corn and soybeans at farms nationwide.<ref>{{cite web |url=https://www.fsa.usda.gov/programs-and-services/arc-plc/index |title=Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) |publisher=U.S. Farm Service Agency}}</ref> Despite its impact, challenges like funding competition, complex eligibility, and program uptake persist (web ID: 4), but it remains a cornerstone of USDA’s risk management efforts. | ||