Trump Announces More Financial Aid for Farmers

President Donald Trump announced a Harvest Fuel Relief Program at a rally in Kansas on October 19, under which the Agriculture Department will provide $8 billion in economic aid to farmers hurt by high diesel prices.

The New York Times reports this is the second time in two years that the president authorized billions of dollars in bailout money for farmers harmed by rising fuel prices caused by the U.S.-Israel war on Iran, which has restricted exports of oil products from the Persian Gulf. The move comes as harvest season brings to a peak the need for diesel fuel to run harvesting machinery, and just over two weeks before midterm elections in which farmers and ranchers could be the deciding votes in close races across the country.

Under the plan, the Agriculture Department will apply a formula based on how many acres and which crops farmers planted, in order to reimburse them for a “portion” of their losses. The money will come from a financing instrument that the Agriculture Department uses to fund crop insurance and natural disaster payment programs, known as the Commodity Credit Corporation.

The Times says the payment rates will be announced sometime in November, and farmers will receive money at a later date.

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