Trade relief for seven-figure earners?
Story Date: 1/28/2019

 

Source: POLITICO'S MORNING AGRICULTURE, 1/25/19

The disaster aid package passed by the House last week contains a host of new benefits for farmers and ranchers — but one provision isn't related to the natural disasters of 2018.

The bill, H.R. 268 (116), would eliminate the $900,000 annual adjusted gross income cap that producers must meet to qualify for the Trump administration's trade-assistance program, your host reports . A House aide said the provision was aimed at helping Washington state cherry growers, though it would apply to all producers who seek trade assistance, if passed. It has yet to receive a vote in the Senate.

Some stipulations: Farmers, ranchers and agribusinesses would still have to earn at least 75 percent of their annual adjusted gross income from farming, ranching or forestry activities to qualify for trade aid, and total payments would be capped at $125,000 per person or legal entity.

Crop insurance boost: On top of adding $3 billion to USDA's disaster relief account, the bill would now allow the money to be used for reimbursing producers for "past or future" crop insurance premiums. Taxpayers already cover about 60 percent of premiums paid by producers.

Where is this going? If there's a deal to end the shutdown, the bill's agricultural provisions could stick. They have bipartisan backing: Georgia Reps. Sanford Bishop (D), who chairs the House Appropriations agriculture panel, and Austin Scott (R) are the sponsors.

























   Copyright © 2007 North Carolina Agribusiness Council, Inc. All Rights Reserved.
   All use of this Website is subject to our
Terms of Use Agreement and our Privacy Policy.