The payment band widens from 10 percent to 12 percent for 2025 through 2031
What the document says“for each of the 2025 through 2031 crop years, 12 percent of the benchmark revenue for the crop year applicable under subsection (c).”
The section strikes subparagraph (B) of subsection (d)(1) of section 1117 of the Agricultural Act of 2014 and inserts a new one setting 10 percent of benchmark revenue for each of the 2014 through 2024 crop years and 12 percent of benchmark revenue for each of the 2025 through 2031 crop years.
What the document actually says“for each of the 2025 through 2031 crop years, 12 percent of the benchmark revenue for the crop year applicable under subsection (c).”
For the 2025 to 2031 crop years the figure is 12 percent of the benchmark.
This figure sets how deep a loss the program covers. A bigger figure means a wider band. For years up to 2024 the figure stays at 10 percent.
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