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Debbie Stabenow

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Obama seeks to reduce subsidy of crop insurance

President Barack Obama proposed reducing the most expensive part of the farm safety net by cutting the subsidy to farmers for buying crop insurance.At present, the government pays 62 cents of every $1 of insurance premium. Farmers collected a record $16.2 billion in payments on 2012 crops, chiefly due to drought. They paid $4 billion for the policies and the government added $7 billion.Obama on Wednesday proposed a reduction of 3 percentage points in the federal subsidy for policies with higher levels of coverage - the most popular policies - and a reduction of 2 points in the subsidy to buy so-called harvest price policies that pay more if commodity prices go up during the year.Farm income is forecast at record levels, said the White House, so it is time to adjust farm supports. As part of that, it proposed elimination of the $5 billion a year "direct payment" subsidy that is paid regardless of need.Besides lowering the premium subsidy, Obama said the government should pay less of the...

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  1. China says yuan rise can't solve trade imbalance with U.S.

    BEIJING (Reuters) - Letting the yuan appreciate cannot solve the U.S. trade imbalance with China , the Foreign Ministry said on Friday, hitting back at planned U.S. ...

  2. Senators urge pressure on China over rare earths

    By Doug PalmerWASHINGTON (Reuters) - Four senators on Tuesday urged President Barack Obama's administration to step up its fight against China's "hoarding" of critic...

  3. Senators Threaten Currency Bill Ahead of Hu Visit

    A group of U.S. senators, on the eve of Chinese President Hu Jintao's arrival in the United States, said it was vital Congress pass legislation to get tough with Chi...

  4. China's President Resists U.S. Pressure on Yuan

    Chinese President Hu Jintao urged an end to a "zero sum" Cold War relationship with the United States and proposed new cooperation, but resisted U.S. arguments about...

  5. Senators Criticize China Currency Report Delay

    Two Democratic senators praised the Obama administration on Friday for launching a trade investigation into Chinese clean energy practices but criticized the delay i...

  6. President's Stimulus Tour Giving Country a Charge

    Sen . Debbie Stabenow , (D-Mich), on why she believes in the president’s backing of battery plants in Michigan.

  7. Rep. Dave Camp on Carp Act

    Rep. Dave Camp, (R-Mich), on keeping carp out of Lake Michigan.

  8. House Continues Public Option Push

    FBN's Rich Edson on the debate over public option in health-care reform.

  9. Transportation Sec.: Great Time to Buy a Car

    Transportation Secretary Ray LaHood on future of government's popular 'Cash for Clunkers' program.

  10. 'Clunkers,' Temporary Stimulus?

    Sen . Debbie Stabenow on the positives of 'Cash for Clunkers' and the plan to push the program forward.

  11. Stimulating Local Economies

    Mayors to meet with President Obama today.

  12. White House Backing Autos

    Help for the Big 3

  1. Fiscal Deal Hopes Dim Ahead of WH Meeting

    President Barack Obama and congressional leaders were set to meet on Friday for the first time since November with no sign of progress in resolving their differences...

  2. 'Moo've Over, Fiscal Cliff: Dairy Prices Seen Soaring Without New Farm Bill

    Alarm about an arcane provision that could send U.S. milk prices at the grocery store soaring, hurting millions of American households, has spurred calls for last-mi...

  3. U.S. Judge Approves A123 Sale to China's Wanxiang

    A federal judge on Tuesday approved the sale of A123 Systems Inc. (AONEQ), the government-backed battery maker that has yet to turn a profit, to China's Wanxiang Ame...

  4. Chinese bid for A123 may raise security risks: Senators

    A Chinese company's attempt to take over government-backed battery maker A123 raises serious national security concerns, a bipartisan group of lawmakers said this we...

  5. Voters Usher in a Record 20 Female Senators: Who Are They?

    Pantsuits are about to have a fashion moment.Last night’s election ushered in several female senators, bringing the number of female representatives in the Senate to...

  6. Fmr. Rep. Hoekstra’s Super Bowl Ad Racially Insensitive?

    Radio talk show host Joe Madison on criticism that former Rep. Peter Hoekstra’s political ad during the Super Bowl was racially insensitive.

  7. Rasmussen: Obama’s Lead Growing Against Romney

    Scott Rasmussen of Rasmussen Reports breaks down the latest projections on the 2012 election.

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