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US proposes supplemental assistance for ag provisions

Monday, May 2, 2022

The White House sent a funding request to Congress on April 28 that included $500 million in incentives for U.S. farmers to boost the production of crops like soybeans and wheat to address global food shortages due to the war in Ukraine.

According to a White House fact sheet, through higher loan rates and crop insurance incentives, the legislative proposal to Congress would provide greater access to credit and lower risk for farmers growing soybeans and other commodities while lowering costs for American consumers.

Proposed changes will not be effective immediately as Congress will review the proposed legislative changes and determine the next steps.

 

Photo source: ASA.

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