After months of advocacy, Senator Reverend Warnock’s provision in the Inflation Reduction Act to support economically-distressed farmers began implementation after the United States Department of Agriculture (USDA) announced $29.8 million in relief for Georgia farmers with qualifying USDA farm loans
According to USDA, as of this morning, over 13,000 delinquent direct and guaranteed borrowers nationwide have received relief. USDA also paid the next scheduled annual installment for current direct loan borrowers, giving them peace of mind for the next 12 months
Senator Reverend Warnock: “…I fought to include robust relief for farmers in the Inflation Reduction Act, so farmers can stay on their farms and keep operating at full force to feed our country and support our local economies.”
Washington, D.C. – Today, the United States Department of Agriculture (USDA) began implementing Senator Reverend Warnock’s farmer relief provision in the Inflation Reduction Act, bringing life-changing relief to Georgia farmers. USDA announced most direct and guaranteed loan borrowers who are more than 60 days delinquent have been made current on their loans. Additionally, USDA will credit economically-distressed farmers’ accounts for one year of payments to give them breathing room moving forward. The USDA action will immediately benefit 343 Georgia farmers with 739 qualifying farm loans. USDA also announced how delinquent farm loan borrowers with more complex financial situations will receive assistance in the coming weeks. More information available here.
“Farming is one of the toughest jobs on the planet and it’s only been made more difficult by supply chain disruptions, rising costs of farming essentials, market consolidation, COVID-19, and extreme weather conditions,” said Senator Reverend Warnock. “That’s why I fought to include robust relief for farmers in the Inflation Reduction Act, so farmers can stay on their farms and keep operating at full force to feed our country and support our local economies. Today’s announcement will give Georgia farmers a sigh of relief, and I will continue to hold USDA accountable and urge the department to quickly administer the remaining relief to our struggling farmers.”
As a member of the Senate Agriculture Committee and the chair of the Subcommittee on Commodities, Risk Management, and Trade, Senator Warnock has been laser-focused on helping Georgia farmers navigate economic challenges and getting farmers the tools they need to grow and thrive. Senator Warnock fought to secure over $5 billion in the Inflation Reduction Act for farmers in Georgia and across the country, including $3.1 billion for economically-distressed borrowers and $2.2 billion for borrowers who have suffered discrimination. The Senator has worked to elevate the voices of all farmers and producers through a series of moderated conversations with USDA officials. Senator Warnock has pushed the Administration to work to create more favorable trade conditions and expand market access for Georgia’s agriculture sector in international markets. Last month, Senator Warnock secured $300 million to help eliminate barriers to land, capital, and market access for underserved farmers. The Senator has worked to ease stressors and economic tensions for farmers, including securing $10 million in funding for USDA’s Farm and Ranch Stress Assistance Network (FRSAN) in the most recent spending bill, which helps to better connect farmers to farm stress resources.
More information about today’s announcement available HERE.