U.S. coronavirus stimulus bill adds billions in support for farmers
The U.S. coronavirus stimulus bill would add $14 billion to the Agriculture Department’s Commodity Credit Corp spending authority, and authorize another $9.5 billion for U.S. farmers hurt by the fast-spreading pandemic, according to a copy of the bill’s text.
The $2 trillion bipartisan legislation, set for a Senate vote on Wednesday, is aimed at alleviating the devastating economic impact of the coronavirus pandemic.
The Commodity Credit Corp (CCC), set up during the Great Depression nearly a century ago, has been tapped by the Trump Administration for nearly $30 billion in recent years to compensate farmers and assist the sector due to the U.S.-China trade wars. The bill would bring the fiscal 2020 authority limit to $44 billion.
The additional $9.5 billion would be used to specifically assist livestock producers affected by the pandemic, such as cattle ranchers, and hog and dairy farmers.
Click Here to read more.
The $2 trillion bipartisan legislation, set for a Senate vote on Wednesday, is aimed at alleviating the devastating economic impact of the coronavirus pandemic.
The Commodity Credit Corp (CCC), set up during the Great Depression nearly a century ago, has been tapped by the Trump Administration for nearly $30 billion in recent years to compensate farmers and assist the sector due to the U.S.-China trade wars. The bill would bring the fiscal 2020 authority limit to $44 billion.
The additional $9.5 billion would be used to specifically assist livestock producers affected by the pandemic, such as cattle ranchers, and hog and dairy farmers.
Click Here to read more.