Tuesday, October 13, 2020

Trump administration sends record subsidies to farmers

Federal payments to farmers are projected to hit a record $46 billion this year as the White House funnels money to Trump’s rural base in the South and Midwest ahead of Election Day," Alan Rappeport reports for The New York Times. "The gush of funds has accelerated in recent weeks as the president looks to help his core supporters who have been hit hard by the double whammy of his combative trade practices and the coronavirus pandemic."

The American Farm Bureau Federation forecasts debt in the farm sector to increase by 4 percent to a record $434 billion this year; meanwhile, farm bankruptcies have continued to rise.

Farmers had already been receiving large amounts of government aid. For the past two years in a row, direct federal aid has been the single largest source of income for farmers, accounting for nearly a quarter of farm income, according to the U.S. Department of Agriculture

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