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Average Crop Revenue Election: Difference between revisions
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|TopOrganization=Department of Agriculture | |TopOrganization=Department of Agriculture | ||
|CreationLegislation=Food, Conservation, and Energy Act of 2008 (Public Law 110-246) | |CreationLegislation=Food, Conservation, and Energy Act of 2008 (Public Law 110-246) | ||
|Purpose= | |Purpose=Average Crop Revenue Election program, run by the U.S. Department of Agriculture through its Farm Service Agency, aids farmers against revenue drops, stabilizing income for crops like corn and soybeans nationwide. | ||
|Website=https://www.fsa.usda.gov/programs-and-services/acre/index | |Website=https://www.fsa.usda.gov/programs-and-services/acre/index | ||
|ProgramStart=2009 | |ProgramStart=2009 | ||
|InitialFunding=$500 million | |InitialFunding=$500 million | ||
|Duration=2009–2018 (discontinued, but historical data informs current programs) | |Duration=2009–2018 (discontinued, but historical data informs current programs) | ||
|Historic= | |Historic=Yes | ||
}} | }} | ||
The '''Average Crop Revenue Election (ACRE)''', established in 2009 under the Food, Conservation, and Energy Act of 2008, was administered by the Department of Agriculture (USDA) through its Farm Service Agency (FSA) to provide revenue guarantees to farmers, allocating over $5 billion during its existence to support approximately 500,000 farms annually from 2009 to 2018. Initially funded with $500 million, it distributed up to $1 billion annually in peak years (e.g., 2011), insuring crops like corn and soybeans at farms nationwide.<ref>{{cite web |url=https://www.fsa.usda.gov/programs-and-services/acre/index |title=Average Crop Revenue Election (ACRE) |publisher=U.S. Farm Service Agency}}</ref> Despite its impact, challenges like complex eligibility, limited uptake, and replacement by newer programs like Agriculture Risk Coverage (ARC) led to its discontinuation in 2018 (web ID: 5), but it remains a historical benchmark for USDA risk management efforts. | The '''Average Crop Revenue Election (ACRE)''', established in 2009 under the Food, Conservation, and Energy Act of 2008, was administered by the Department of Agriculture (USDA) through its Farm Service Agency (FSA) to provide revenue guarantees to farmers, allocating over $5 billion during its existence to support approximately 500,000 farms annually from 2009 to 2018. Initially funded with $500 million, it distributed up to $1 billion annually in peak years (e.g., 2011), insuring crops like corn and soybeans at farms nationwide.<ref>{{cite web |url=https://www.fsa.usda.gov/programs-and-services/acre/index |title=Average Crop Revenue Election (ACRE) |publisher=U.S. Farm Service Agency}}</ref> Despite its impact, challenges like complex eligibility, limited uptake, and replacement by newer programs like Agriculture Risk Coverage (ARC) led to its discontinuation in 2018 (web ID: 5), but it remains a historical benchmark for USDA risk management efforts. | ||