The Farm Risk Abatement and Mitigation Act was introduced in the House this week. It would establish tax deferred farm savings accounts that producers could withdraw from during lean times without waiting for disaster declarations or government assistance. Nebraska Farm Bureau National Affairs Coordinator Jordan Dux says Farm Bureau has supported that type of approach in the past and wants to take a serious look at it now.

He says the program called for in the FRAME ACT allows farmers to put money away during good economic times and then use that when farm prices drop.

Dux says the FRAME program would work well with federal crop insurance. However, his group opposes shifting funding from crop insurance and using it for that savings program.

Arkansas Congressman Rick Crawford’s legislation has been referred to the House Ways and Means Committee. Dux says that’s positive because Nebraska Congressman Adrian Smith serves on that panel and they’ll be able to work with him on the measure.