One asset of the CARES Act that hasn’t been discussed too heavily is the agriculture assistance portion.
KX News sat down with U.S. Sen. John Hoeven to better understand how North Dakota farmers and ranchers could benefit from this $19 billion package.
$16 billion will be sent out as direct payments for U.S. producers, and the federal government would use the remaining $3 billion to purchase excess food, including meat and dairy.
The Republican Senator from North Dakota says the plan with these purchases is to pass the food the farmers just can’t sell off to food banks and others in need.
“It’s going to be a real shot in the arm, about 9.5 billion for livestock, about 6.5 -billion for farmers, another 3 billion in purchases for a total of 19 billion. I actually secured 23.5 billion. We have another 14 billion coming in July. So yeah, this is going to help, but we’re going to have to do more,” Sen. Hoeven explained.
The rules for the program are still being finalized this week in Washington, D.C.
Sen. Hoeven says he expects the applications will be available at your local FSA office come sometime early in May and payments should be in by late May.