Agriculture Sector Received $35.1B in COVID Aid – Arkansas Business Online

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The U.S. agriculture sector acquired an estimated $35.1 invoiceion in COVID-19-associated aid in 2020, Based mostly on the U.S. Division of Agriculture.

Farm operations acquired $29.5 invoiceion, or 84% of that complete, Based mostly on the 2021 Farm Income Forecast: September Replace, whereas farm households acquired $5.6 invoiceion, 16%.

Congress handed six financial aid and stimulus funds in 2020 in response to the pandemic. One invoice accredited the USDA to create the Coronavirus Meals Assist Packages, which provided direct funds to farm operations.

“Completely different federal departments and businesses created broader programs from which each farm operations and household farm households have been eligible to acquire assistance,” the USDA famous in a Sept. 7 article in “Amber Waves,” An interinternet-based journal revealed month-to-month on The internet website of the department’s Economic Evaluation Service.

These included the U.S. Small Enterprise Administration’s Paycheck Safety Program and the Economic Damage Disaster Mortgage Program. Most household farm households have been additionally eligible for Economic Influence Payments, administered by The inside Income Service. And household farm households that misplaced off-farm wages have been eligible for Federal Pandemic Unemployment Compensation administered by the U.S. Division of Labor.

COVID-19 Assist U.S. Agriculture Sector

U.S. agriculture sector acquired an estimated $35.1 invoiceion in COVID-19-associated monetary assistance in 2020.

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