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Tuesday, June 4, 2019

Attention Remains on Potential Farmer Aid for Prevent Plant Acres

The Trump administration's Market Facilitation Program 2 will be calculated on how many acres of crops a farmer plants this year — which means any cutbacks in planting due to floods or rain will hurt farmers even more, by reducing eligibility for the government assistance.
That is unless the formula is changed, a possibility USDA Secretary Sonny Perdue is not ruling out, or in.
The American Farm Bureau Federation is urging USDA to alter the way it sets the assistance payments. The farm group wants acres that can’t be planted to count toward a farmer’s eligibility for federal assistance.
Plus speculation continues over the potential for the $19.1 billion disaster bill to play a role in the situation with provisions contained in that legislation. One that will impact includes that those farmers with over $900,000 in adjusted gross income (AGI) can qualify for the payments if more than 75% of their income is derived from farming.