The AFFIRM Act of 2026 reduces federal spending on crop insurance by altering premium subsidies and reimbursements.
The AFFIRM Act of 2026 amends the Federal Crop Insurance Act to reduce federal spending on crop insurance. It prohibits premium subsidies for policies based on harvest prices starting in 2027. The act caps the target average rate of return for reinsured companies at 8.9 percent of retained premiums for the 2027 reinsurance year and each subsequent year. It also limits total reimbursements for administrative and operating costs to $900 million for the 2027 reinsurance year, with an inflation adjustment for subsequent years.
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