How farmers and ranchers will benefit from the latest COVID relief bill

We have some new insight on how farmers and ranchers will benefit from the latest aid package.

Agriculture will get a $26 billion dollar cut of the new coronavirus relief package.

According to American Farm Bureau’s Andrew Walmsely, “This is definitely good, I don’t want to say Band-Aid, but definitely a good stepping stone into the new year to see where we’re at in a few months. There is obviously unresolved issues out there with liability protection for businesses, and the whole issue with state and local governments.”

The bill also includes more funding for specialty crops growers and producers who were forced to euthanize their animals because of the supply chain disruptions.

There are also more provisions for rural Americans like $7 billion dollars for broadband and about $4 billion dollars for ethanol.

“Well, we certainly don’t expect that this will be the last coronavirus relief package, and we have heard President-elect Biden and members of Congress say that this will continue to be a priority for them when they come back for a new Congress in the new year,” Renewable Fuel Association’s Geoof Cooper states.

Leaders say a push for cleaner energy could create financial opportunities for biofuels.

“We also know there’s going to be a real focus on infrastructure and climate, and there could be some sort of tie-ins or overlap with those efforts and what may come of new COVID-relief legislation in the new year,” Walmsely notes.

Biofuels will get a tax break through credits and extensions in a separate part of the coronavirus relief package.