Legislation Would Provide One-Time Assistance Payment for Louisiana Farmers

By Melina Druga

Financial Regulation News

The Farmer Assistance and Revenue Mitigation Act would provide farmers with a one-time assistance payment for the purchase of eligible commodities such as barley, corn, cotton, rice, soybeans, and wheat. Payments also can be used to pay down debt from the 2024 crop year.

Farmers would received assistance to secure financing for the 2025 crop year.

Eligible farmers expect revenue for the 2024 crop year to fall below production costs.

U.S. Reps. Trent Kelly (R-MS) and Julia Letlow (R-LA) introduced the bill which has the support of the Louisiana Farm Bureau Federation and the LA Cotton & Grain Association.

“We wouldn’t be able to function as a nation without our agriculture industry and the hardworking farmers who keep it running.” Letlow said. “As I’ve traveled across the Fifth District, I’ve heard directly from farmers who are on the verge of bankruptcy, and desperately need targeted assistance in order to continue feeding our nation and fueling our economy. This bill responds to the immediate needs of our agricultural community by providing targeted assistance so that our farmers are equipped to sustain their operations, support their families, and contribute to the local economy.”