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U.S. Details Up to $14 Billion in New Aid for Farmers

Submitted by jhartgen@abi.org on

The U.S. Agriculture Department on Friday released details of a second round of COVID-19 aid for farmers, which will pay up to $14 billion to growers of major crops such as corn, soybeans and wheat, as well as livestock, dairy and tobacco, Reuters reported. The aid follows a $19 billion relief program announced in April to help U.S. farmers cope with disruptions to the food supply chain and plummeting demand from restaurants during the pandemic. Less than $10 billion has been paid out to date. The administration has been criticized for the $28 billion spent over 2018 and 2019 to compensate farmers for lost sales during a tariff war with China. The new aid package will largely be funded by the Commodity Credit Corp, a Depression-era program created to support farm income. Funds from the corporation do not need to be approved by Congress. The USDA also said that up to $100 million in aid for tobacco farmers will come from the Coronavirus Aid, Relief, and Economic Security Act.