A pair of Congress people have introduced the Helping America’s Farmers Act. The bill would create a new economic injury disaster loan program at USDA’S Farm Service Agency. The legislation would appropriate $10 billion for direct loans along with another $10 billion for a guaranteed loan program through FSA lenders. South Dakota Farmers Union President Doug Sombke says having constant funding programs from the government to help agriculture isn’t the answer and this measure looks pricey.
He says the major problem farmers and ranchers face is low commodity prices.
Sombke says while agriculture is struggling the whole U.S. economy is in terrible shape.
The Helping America’s Farmers Act also provides a $20,000 grant applicants would be eligible for where they could seek forgiveness for their loan based on demonstrated economic hardship.
