As the year comes to a close, so does the window to apply for certain programs that can help give farmers a needed boost with their loan payments.
USDA Deputy Secretary Xochitl Torres Small says sometimes producers find themselves in financial trouble through no fault of their own.
“Sometimes it’s meant missed payments, other times it’s meant farmers who have taken out a second mortgage or cash out their retirement in order to keep going. That’s why President Biden, through the IRA, has worked to add some breathing room for farmers.”
These “breathing room” programs are funded through the Inflation Reduction Act. So far, $1.8 billion has been spent on more than 32,000 farmers. The deadline to apply for most programs is December 31st but USDA officials say it never hurts to check with your local FSA office to see if there are other options.
