$14 Billion in Additional Aid Secured for Agriculture Industry
UNITED STATES – The farming industry is getting some much needed relief through new funds being made available through the Commodity Credit Corporation.
An additional $14 billion will be made available to farmers, producers, and ranchers.
That is in addition to the $16 billion that was secured for farmer aid from the CARES act.
The USDA is hoping to start assistance payments by June, with farmers receiving 80% of the payments up front.
“As we work to get more money in there for Quarter 2 and follow on, we want it funded in a more effective way, and so that is what we are trying to do now,” said Sen. John Hoeven, “There is different funding scenarios here that we are working on. We gotta have more iron in the fire because you never know when you’re gonna be able to get it done.”
Sen. Hoeven said that he is working with Agriculture Secretary Sonny Purdue to create programs that will help aid struggling cattle producers in our region.
He urged all those needing aid to apply immediately with the FSA.