New Year, New COVID-19 Relief
This was no sure bet. Even after gaining bipartisan support in both the House and Senate, President Trump took to Twitter last Tuesday and didn’t mince words. His take: the 5,600-page bill was a ‘disgrace.’
But with a government shutdown looming and his Republican allies amping up pressure, Trump caved and signed the bill.
So what does this mean for the ag world? Let’s dive in.
Big picture: $13 billion, about 1.4% of the entire package, is headed to food and agriculture. Most of that will flow from the Secretary of Ag’s office, a similar set up to prior COVID-19 relief programs.
The deets on the deal:
→ $20-per-acre payments for row crop growers, estimated to collectively top $5 billion→ $3 billion for livestock farmers who euthanized animals due to supply chain snafus and canceled contracts→ $870 million for dairy producers via the Dairy Margin Coverage program
What’s next: It has been a record year for agriculture aid with a final tab landing north of $50 billion. 2021 will begin with a sprint to get this new cash in producers’ pockets.