President Trump made a surprise announcement on Tuesday, revealing that the federal government will allocate $19 billion in funding to assist the struggling US agriculture industry.
The program will reportedly provide $16 billion in direct assistance to farmers across the nation to “maintain the health of the food supply chain.”
“The farmers and ranchers are incredible people,” Trump said in his announcement. “I’m proud to stand right by their side in this hour of need.”
American farmers have taken a massive hit during the coronavirus crisis as virus outbreaks at food processing plants have broken the supply chain.
Trump said that the funds — authorized by the $2 trillion CARES act passed in late March — will go to farmers and ranchers producing corn, cotton, soybeans, specialty crops, beef, dairy, and pork, among other things.
Fox News reported that “the remaining $3 billion in the $19 billion program is being used to purchase products for food lines.”