Impact of COVID-19 on Agriculture

CFAP2 Provides $14 Billion in Coronavirus Aid for Farmers

Podcasts / Newsline September 21, 2020

Credit: Anthony Quintano / CC BY 2.0 

The recently announced second round of coronavirus relief provides an additional $14 billion for farmers and ranchers. Micheal Clements shares who will benefit from the aid.

Clements: On Friday, the administration announced details of the new $14-billion-dollar Coronavirus Food Assistance Program, or CFAP2, that will provide direct payments to farmers and ranchers to partially offset COVID-19-related losses for producers. American Farm Bureau Federation Chief Economist John Newton says the aid extends to new commodity categories.

Newton: The second round of the Coronavirus Food Assistance Program provides additional much needed financial support for our livestock producers, our crop producers, specialty crop, as well as extending into nursery, floriculture, specialty livestock, tobacco and several other commodity categories.

Clements: Newton says CFAP2 provides much-needed relief for losses not covered in the original CFAP assistance.

Newton: The first round of CFAP provided financial assistance to producers really through the April 15th date, which was right around the height of COVID-19 impacts. And this second round provides support for produces that had financial losses after that April 15th date and extends all the way through in some cases the rest of the year for dairy farmers, for crop producers. For livestock producers, it provides support based on inventory held on the farm operation from April 16th through the end of August.

Clements: Newton provides more information about the program on AFBF’s Market Intel page.

Newton: The Market Intel page includes a breakdown of where the CFAP assistance is expected to go based on USDA analysis. It also provides commodity-level payment information. The best place to get information on the CFAP program is at farmers.gov/CFAP. The program opens for signup today and extends through December. So, producers have plenty of time to get in and sign up for that second round of CFAP assistance.

Clements: Find a breakdown of the CFAP2 on the Market Intel page at fb.org.

Share This Article

The American Farm Bureau Federation encourages rural resident to participate in the National Prescription Drug Take Back Day this Saturday.

Full Article
Credit: iStockPhoto 

The current estate tax exemption level is set to expire in 2025. Micheal Clements shares how that could threaten family farms in the future if a permanent change isn’t made by Congress.

Full Article