• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News Source

REPUBLICA PRESS
Your Business & Political News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • SCIENCE/TECH
  • US
  • WORLD

U.S.D.A. Will Begin Relief Payments to Black Farmers in June

by

>>> Check Out Today’s BEST Amazon Deals!<<<<

The United States Department of Agriculture said on Friday that it will begin making loan forgiveness payments in June to thousands of minority farmers as part of the Biden administration’s $4 billion debt relief program.

The initiative, part of the $1.9 trillion economic relief package that Congress passed in March, has been criticized by white farmers, who claim that it is a form of reverse discrimination, and by banks, which have complained they are losing out on profits from lost interest payments. Delays in implementing the program have frustrated Black farmer organizations, whose members have struggled financially for years and received little help from the Trump administration’s farm bailouts last year.

The U.S.D.A. will initially make debt relief payments for about 13,000 loans that were made directly by the agency to minority farmers. The next phase will apply to the approximately 3,000 loans that were made by banks and guaranteed by the U.S.D.A. That will begin “no later” than 120 days from Friday, the agency said.

“The American Rescue Plan has made it possible for U.S.D.A. to deliver historic debt relief to socially disadvantaged farmers and ranchers,” Tom Vilsack, the secretary of agriculture, said in a statement. “U.S.D.A. is recommitting itself to gaining the trust and confidence of America’s farmers and ranchers using a new set of tools provided in the American Rescue Plan to increase opportunity, advance equity and address systemic discrimination in U.S.D.A. programs.”

other investors.

The U.S.D.A has said that it does not have the authority to cover the banks’ lost interest income.

View Source

Filed Under: BUSINESS Tagged With: Agriculture, Agriculture and Farming, Agriculture Department, American Rescue Plan (2021), Credit and Debt, Discrimination, Government, Income, Information, Letters, Minorities, Money, PAID, Pay, Race and Ethnicity, Summer, taxes, United States, United States Politics and Government, Vilsack, Tom

Primary Sidebar

More to See

Southern Baptists to Release List of Ministers Accused of Sexual Abuse

Leaders in the Southern Baptist Convention announced Tuesday that they were preparing to release a secretly maintained list of hundreds of ministers … [Read More...] about Southern Baptists to Release List of Ministers Accused of Sexual Abuse

You May Be Ready for Summer, but Is Your Home?

The change of seasons offers an opportunity to make changes of your own — not just in the way you dress, but in the way you dress the rooms you live … [Read More...] about You May Be Ready for Summer, but Is Your Home?

Stained Glass in a $1.5M Converted Church in St. Louis Is Simply Divine

It’s a property that offers a unique open floor plan—plus a hot tub with a view.“It was a Methodist church located in a historic little area of St. … [Read More...] about Stained Glass in a $1.5M Converted Church in St. Louis Is Simply Divine

Copyright © 2022 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy