The package of COVID aid that congressional leaders are working on and are aiming to finalize to include with a funding plan for Fiscal Year (FY) 2021 continues to contain help for agriculture.
The package would authorize $13 billion in farmer aid and $13 billion in food assistance, including a temporary 15% increase in SNAP benefits. It also provides $10 billion for broadband improvements.
Another provision would allow farmers and other small businesses that obtained Paycheck Protection Program (PPP) loans to deduct from their tax obligations the same expenses they used to qualify for loan forgiveness.
Some maintain the amounts in the package are not enough to cover ag losses at this stage. That will likely mean a push for additional financial assistance for the sector will continue next year.