Help is on the way to small businesses across the country, including farms and other ag employers. The Small Business Administration has released rules for a landmark $349 billion forgivable loan program funded by the $2 trillion economic stimulus bill.
Social distancing may be a crucial step to help limit the spread of the coronavirus, but the lack of high-speed internet in rural areas to conduct classes, run small businesses, or practice telemedicine could have dire financial consequences if the pandemic lasts months.
Renewable fuel advocates say a final Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule economy rule issued by the Department of Transportation and Environmental Protection Agency misses the mark for transitioning to high octane low carbon fuels.
Producers are expected to plant 7.29 million more corn acres, 7.6 million more soybean acres, and 451,000 fewer wheat acres this year, according to USDA’s Prospective Plantings report released Tuesday.
Economists already were predicting that 2020 would be another tough year for the farm economy even before the COVID-19 pandemic hit and oil prices plunge. Now, a top farm economist who’s advising USDA says he expects the pandemic to have a “very large” impact on farm income.
Now that President Donald Trump has signed the historic $2 trillion economic relief package into law, work now turns to getting the money out as quickly as possible. “This doesn’t do anybody any good if it takes a long time,” Treasury Secretary Steven Mnuchin said on CBS Face the Nation on Sunday.