Congressional leaders have reached agreement on a $2 trillion economic rescue package that would replenish the Agriculture Department’s Commodity Credit Corp. authority and earmark additional money for livestock and specialty crop producers as well as local agriculture, reports Agri-Pulse.
The additional spending authority would clear the way for USDA to make additional Market Facilitation Program payments this year.
The text of the legislation was still being finalized Wednesday morning, but a draft provided to some congressional staff would provide $14 billion to replenish the CCC account, which is capped annually at $30 billion, as well as $9.5 billion more for livestock and specialty crops, such as fruit, vegetables and nuts. Dairy producers and "local food systems" also would be eligible for the $9.5 billion, which is earmarked for producers harmed by the COVID-19 pandemic.
