?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:?
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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
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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
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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
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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