Federal government has given $800 million to keep indebted farmers afloat
Written by Black Hot Fire Network on October 19, 2022
More than 13,000 farmers have benefited from nearly $800 million in federal debt relief, U.S. Secretary of Agriculture Tom Vilsack said Tuesday.
The assistance came from a new federal initiative to erase farmers’ loan delinquencies to the U.S. Department of Agriculture and private lenders or to resolve their remaining debts after foreclosure.
Going forward, the USDA is expected to give hundreds of millions of dollars of relief to farmers who are facing bankruptcy or foreclosure and to those who are at risk of missing payments on their loans.
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