Beef Buzz News
Budget and Corona Virus Aid Legislation Includes Additional Funds For Livestock Producers
Mon, 28 Dec 2020 08:44:45 CST
The $900 billion corona virus assistance package just passed by Congress and signed by President Trump includes some much-needed assistance for cattle producers, said Ethan Lane, NCBA vice president of government affairs.
Ron Hays Beef Buzzes With Ethan Lane
Lane, who was interviewed by Radio Oklahoma Ag Network Farm Director Ron Hays, said the legislation also funds the government for the next nine months and aids livestock producers left short from earlier CFAP bills.
Because of the way Congress does business these days, the big omnibus bill ends up being a wrap up of how we spent the whole year, Lane said.
Itís nice to see the work weíve done throughout the year reflected in this final package, he said.
Itís going to push additional resources to those producers left out of other CFAP packages, he said.
There is also additional language that establishes the federal livestock dealer trust that weíve worked on for some time, Lane said.
One of the sections passed has an Oklahoma connection as the RAMP UP Act, authored by U.S. Rep. Frank Lucas (R-OK) received funding.
This is a huge win for Cong. Lucas, Lane said.
This provides some grants and other assistance to help state inspected meat processing facilities get federally inspected.
There is also some money in there to study the issue of processing capacity.
Lane added there is also a section allowing PPE loans to be deductible.
If you took a PPE loan that was forgiven, this bill clarifies that will not be included in taxable income, Lane said.
Overall, Lane said there is a lot in this bill for producers and help them weather the COVID-19 storm.
Itís basically filling a hole left from CFAP 2, he said.
The first two rounds helped, especially the cow/calf producers, but It left stockers, backgrounders and feeders with fewer resources.
They got some money but not as much as others and hopefully this bill will rectify that, Lane said.
Click on the LISTEN BAR below to hear more of Ronís interview with Ethan Lane.
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