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$4 Billion In Debt Relief Is Coming To Socially Disadvantaged Farmers, Ranchers

Adobe Stock Four billion in debt relief is coming to socially disadvantaged farmers and ranchers who’ve taken out Farm Service Agency loans. In March, President Joe Biden signed into law the American Rescue Plan. Included is the Emergency Relief for Farmers of Color Act. It provides $4 billion in debt forgiveness to socially disadvantaged farmers and ranchers who’ve taken out Farm Service Agency loans. Latresia Wilson is Vice President and Co-Founder of the Florida Chapter of the Black Farmers and Agriculturalists Association (BFAA). She says farmers are excited about debt forgiveness. “It’s mentally relieving not having debt over your head, and also it could mean for some of them the difference between saving their farm or losing their farm as well as an opportunity, maybe, to have a new start,” Wilson says.

United statesMonica raingeJoe bidenUs department of agricultureExtension centerFarm service agencyAgriculturalists associationPresident joe bidenAmerican rescueEmergency reliefVice presidentFlorida chapterBlack farmersFarmers actAssistant secretaryAmerican indian

USDA Advances $4B Debt Relief Plan For Black Farmers

“It’s an important first step,” US Secretary of Agriculture Tom Vilsack said in an interview with the newspaper. “It’s reflective of the impact of over 100 years of policies and actions at the Department of Agriculture that have limited people from having opportunities. It acknowledges the disparity presently, and it’s really forward-thinking.” Farms who are eligible to receive the payments should start to see notices for payments, Vilsack said. The payments will reportedly cover up to 120% of outstanding debt for an eligible participant. The program received pushback from Republican lawmakers and some Black farmers were skeptical the funds would ever get approved. White farmers filed a lawsuit against the USDA over the program, claiming it reversely discriminates against them.

United statesJohn deereRaphael warnockTom vilsackDepartment of agricultureUs department of agricultureBlack farmersGeorgia senator raphael warnockAgriculture tom vilsackFarm familyRaphael warnockStimulus packageஒன்றுபட்டது மாநிலங்களில்ஜான் தீரேரபேல் எச்சரிக்கைடோம் வில்சாக்

Banks say USDA s debt forgiveness for minority farmers will cost them money and could affect future loans Black farmers call that a threat

Banks say USDA’s debt forgiveness for minority farmers will cost them money and could affect future loans. Black farmers call that a threat. Three of the biggest US banking groups want the US Department of Agriculture to reconsider the terms of billions of dollars in planned debt relief for minority farmers, claiming it will cut into banks’ profits and warn they may have to cut those same farmers off from future loans. President Joe Biden’s $1.9 trillion Covid relief package passed in March includes $4 billion to help pay off farm loans for socially disadvantaged farmers and ranchers a group that includes Black and other minority farmers, who have long faced discrimination from lenders and the USDA. The payments will cover up to 120% of outstanding debt for each farmer or rancher, according to the USDA.

United statesJohn wesley boyd jrTom vilsackJoe bidenNational black farmers associationCommunity bankers of americaNational rural lenders associationFarm service agencyUs department of agricultureAmerican bankers associationAgriculture tom vilsackIndependent community bankersNational black farmersBlack farmersஒன்றுபட்டது மாநிலங்களில்ஜான் வெஸ்லி பையன் ஜூனியர்

Black Farmers Collective | 91 3 KBCS

Black Farmers Collective | 91 3 KBCS
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Hannah wilsonKevin henryBlack farmers collectiveBlack indigenousBlack farmers collective initiaveYes farm managerRyes farmBlack farmersஹன்னா வில்சன்கெவின் ஹென்றிகருப்பு விவசாயிகள் கூட்டுகருப்பு உள்நாட்டுஆம் பண்ணைகருப்பு விவசாயிகள்

Banks say USDA s debt forgiveness for minority farmers will cost them money and could affect future loans Black farmers call that a threat

Banks say USDA s debt forgiveness for minority farmers will cost them money and could affect future loans Black farmers call that a threat
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United statesKate trafecanteJohn wesley boyd jrVanessa yurkevichTom vilsackJoe bidenTime warner companyNational black farmers associationCommunity bankers of americaNational rural lenders associationFarm service agencyUs department of agricultureCable news network incAmerican bankers associationUnited states department of agricultureNational black farmers