May 26, 2020 8:20 am
To provide immediate financial assistance to farmers and ranchers impacted by COVID-19, the Coronavirus Aid, Relief, and Economic Security Act provided the agriculture secretary with an immediate $9.5 billion and the Commodity Credit Corporation with a $14 billion replenishment. Combining the existing Commodity Credit Corporation funding of $6.5 billion with the $9.5 billion appropriated, the secretary created a $16 billion Coronavirus Food Assistance Program that will provide direct payments to farmers and ranchers to partially offset COVID-19-related losses for livestock and specialty and non-specialty crops. Read more.
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