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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, January 08, 2025
The Farm Service Agency has so far distributed roughly $2.3 billion in Inflation Reduction Act funding for distressed borrowers with farm loans, according to a new Government Accountability Office report.
Distressed borrowers will be able to defer one annual loan installment at a reduced interest rate and take advantage of a simplified application process for Farm Service Agency loans.
The Agriculture Department is providing $530 million in additional payments to farmers holding Farm Service Agency loans who are considered to be at financial risk.
Farmers going through difficult times financially would have fewer options for assistance if House Republicans’ spending plan for fiscal 2024 were to become law.
