Will Farmers Receive Another MFP Payment?
Congress has passed and President Trump signed the COVID-19 relief bill into law. Before COVID-19 there was a lot of financial stress on farm families because of multiple years of low prices and weather related decreased yields. The rest of the U.S. economy was doing very well. Now with COVID-19 everyone is affected. We all are wondering how bad will it get and when will life get back to normal?
The COVID-19 relief bill provides some help for families, small business and some large business. We do not know yet if there will be any help for farmers in the relief bill. However, there was funding in the relief bill for the USDA Commodity Credit Cooperation (CCC.) The CCC funds had been depleted because of two years of Market Facilitation payments made to farmers because of the Trade War with China.
There have been no announcements from the USDA about any payments or another type of Market Facilitation payment to farmers. There has been no announcement from the USDA about even working on another payment. However, after the Market Facilitation program there is a process in place and the USDA CCC has the funds. Hopefully Secretary of Agriculture Sonny Perdue has USDA staff working on it!