Those who use farm equipment to produce crops may be glad to hear that the federal government has implemented a new program to help with losses.
The U.S. Department of Agriculture announced the implementation of the Supplemental Revenue Assistance Payments program, which was a part of the 2008 farm bill. Through the program, producers who face a 10 percent loss on crop production may be eligible for assistance.
"This program is an important component of the farm safety net and will provide financial assistance to producers who have suffered crop losses due to natural disasters," U.S. Agriculture Secretary Tom Vilsack said.
SURE provides 60 percent of the difference between the guarantee put forward by the program and a farm's total revenue. Along with the crop loss percentage, producers must make sure they obtain insurance for their crops.
This year has been especially difficult for producers across the country due to weather-related problems. Many were delayed in getting harvesting equipment out to their fields due to wet weather, while drought conditions in other parts of the country reduced yields.
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