Congress Includes Agriculture Relief in $1.9 Trillion Bill

WASHINGTON, DC – After passing closely on a partisan basis in both chambers of Congress, the $1.9 trillion American Rescue Plan Act of 2021 is set to be signed into law by President Joe Biden. According to the Independent Community Bankers of America (ICBA), major components of the legislation include “recovery rebate” payments of up to $1,400 per person as well as aid for state and local governments, funding for vaccine distribution COVID-19 testing and funding for schools. The Small Business Administration (SBA) will receive $15 billion to fund another round of EIDL grants and loans (up to $10,000 per business) while the bill will also provide $10.4 billion for the agricultural industry. The American Farm Bureau Federation (AFBF) says that investment is designed to strengthen the agricultural and food supply chain, provide resources to purchase and distribute agricultural commodities to nonprofits, restaurants or other food-related entities, increase access to health care in rural communities, and provide debt relief and other support programs for socially disadvantaged farmers and ranchers.
(SOURCE: All Ag News)