Changes made to the Paycheck Protection Program could mean more substantial payments to farmers impacted by the pandemic. Iowa Farmers Union President Aaron Lehman says those tweaks are appreciated and are definitely needed.
Under recent PPP provisions, that money won’t be taxed as income and won’t effect any deductions farmers may take. Lehman says that’s another positive change.
Lehman says federal aid is so critical for agriculture now especially since farmers and ranchers have a long road to reach economic recovery from the pandemic.
Farmers and small businesses can apply for PPP loans through their traditional lenders such as banks and Farm Credit institutions.
