The Senate voted 85 to 11 early Saturday morning to pass a spending bill to avoid a federal government shutdown. The bill now goes to President Joe Biden for his signature.
The bill provides $20.78 billion to assist producers with disaster-related losses over the past two years. These funds will cover damages from a range of natural disasters in 2023 and 2024, including droughts, wildfires, hurricanes, floods, derechos, excessive heat, tornadoes, winter storms, freeze events, and excessive moisture. Of this amount, $2 billion is designated specifically for livestock producers impacted by drought, wildfires, and floods during the 2023-24 period. Assistance may be distributed to states as block grants or provided directly to producers. Additionally, the bill increases both payments and coverage for losses under the Noninsured Crop Disaster Assistance Program (NAP).
The bill also includes $10 billion in economic assistance, allocated through a formula outlined in the legislation. This provision establishes one-time payments to producers based on 100% of planted acres and 50% of prevented-planting acres for the 2024 crop year. The bill mandates that the USDA issue these payments within 90 days of the law’s enactment. The payment rates are $31.80 per acre for wheat, $21.76 for barley, and $43.80 for corn.
Furthermore, the bill extends the current farm bill through September 30, 2025.
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DTN
