USDA opens enrollment for farm bridge payments

The Agriculture Department announced it is opening the enrollment period for the Farmer Bridge Assistance program, which will provide $11 billion in one-time bridge payments to certain producers in response to temporary trade market disruptions and increased production costs.

Details: The USDA said the FBA enrollment period opens today and closes April 17.

Background: The Trump administration in December announced a farm aid package of $11 billion for basic crop commodities with an additional $1 billion being considered for specialty crops following ICBA advocacy.

Recent ICBA Farm Advocacy:

• ICBA this month urged Congress to pass an additional farm economic assistance package.

• ICBA and 60 farm groups this month expressed opposition to crop insurance cuts during the budget process.

• ICBA last month said it supports favorable provisions of IRS guidance regarding the ACRE Act tax exclusion for interest earned on agricultural real estate loans.

• ICBA and other groups in October urged President Donald Trump to provide financial assistance to farmers as a bridge until market demand for agricultural commodities boosts prices.

• ICBA sent a letter in October to the Treasury and Agriculture departments urging the administration’s support for a farm aid package as large or larger than the $10 billion package adopted by Congress last year.