How Upcoming COVID-19 Stimulus Will Affect Farmers and Ranchers

Congress is working toward a two-phase COVID-19 relief package, and farmers and ranchers will be targeted by relief payments through both the Coronavirus Food Assistance Program (CFAP) and Paycheck Protection Program (PPP). In all, $13 billion will be earmarked for farmers and ranchers, with an additional $13 billion for nutrition programs like SNAP and the Emergency Food Assistance Program. The bill also will enable lawmakers to repurpose $560 billion that was not spent in the first CARES Act in March, and funding will be earmarked to provide business liability protection at the state and local levels. Industry spokespeople say the aid is badly needed by many ag producers, and things like tax deductibility for PPP loans and another round of CFAP payments will help ag business owners who have been most challenged by the pandemic. See more.