Fiscal Year 2017 Budget of the US Government

BUDGET REQUEST CUTS CROP INSURANCE AND CADILLAC TAX   This week, the Obama administration released their fiscal year 2017 budget request – a $4.1 trillion spending plan sent to Congress Feb. 9. (Keep in mind, that the federal government is expected to collect about $3.34 trillion in FY2016). The administration’s FY 2017 final budget request seeks to reduce the impact of the Affordable Care Act “Cadillac Tax,” expand employee retirement savings options and cut $1.3 billion from the federal crop insurance program. The budget would raise the excise tax threshold so it would apply only to those private plans that exceed the average “gold-level” exchange plan in a state. Obama has already agreed to postpone implementation by two years (Best’s News Service, Feb. 4, 2016). The budget request also includes proposed cuts to the federal crop insurance program – to the tune of $18 billion in cuts over ten years. Specifically, budget cuts include a 10% reduction in all policies containing a “harvest price option,” and reforms to coverage for prevented planting. You can see the Budget request HERE. (You can find the brief crop explanation on page 23 and the year by year cut details on page 112). 

Created Date Friday, 12 February 2016 Modified Date Friday, 12 February 2016

Featured Benefit

DocIT for Agents

 Agents are saving time quoting auto insurance, reducing MVR chargeback fees from carriers and other MVR costs, and making auto insurance sales more profitable for their agency by using DocIT for Agents. PIA members contact Drivers History at 856.673.1286 or

PIA of Minnesota
8646 Eagle Creek Circle, Suite 202
Savage, MN 55378

Phone: 866-694-7070
Fax: 866-749-8678

Email:Click Here to Email Us


piamn logo-web

Don't miss the latest news! Connect with us.

social facebook box blue 32social linkedin box blue 32social twitter box blue 32youtube