IARN — President Biden signed the omnibus spending package into law that diverts a government shutdown and keeps it running until September 30, 2023.
The bill with more than 4,000 pages contains many notable items important to U.S. farmers and ranchers. The bill includes $3.7 billion in disaster funding for crop and livestock losses due to drought and other problems in 2022. There is $350 million allocated for rice producer payments to compensate for the drop in revenue this year, as well as $100 million provided for payments to cotton merchandisers as a result of losses related to COVID or supply chain disruptions.
Livestock Mandatory Reporting is extended until September 30, 2023. It also includes price transparency as the USDA and the Justice Department are to analyze issues regarding transparent meat pricing and price discovery for cattle producers. Raw or processed chicken imported from China can’t be used in the federal school lunch program.
Story courtesy of the Iowa Agribusiness Radio Network.
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