A year later in 2019, that payment inched up to $16 billion.

Of the $23.5 billion made available for farmers and ranchers, $14 billion was used to replenish the Commodity Credit Corporation (CCC). The bulk of direct aid for agricultural businesses will come from funds allocated to the Office of the Secretary of the Department of Agriculture and the Commodity Credit Corporation. 7–1 1This table of contents is not part of the Act but is included for user convenience. Short title. The CARES Act included $14 billion to replenish the Commodity Credit Corporation (CCC) and $9.5 billion in direct funds for utilization under the discretion of the Secretary of … What’s in it for ag? COMMODITY CREDIT CORPORATION CHARTER ACT [As Amended Through P.L. The bulk of direct aid for agricultural businesses will come from funds allocated to the Office of the Secretary of the Department of Agriculture and the Commodity Credit Corporation…

The Commodity Credit Corporation (CCC) is a wholly owned United States government corporation that was created in 1933 to "stabilize, support, and protect farm income and prices" (federally chartered by the CCC Charter Act of 1948 (P.L. Overall, the CARES Act provides approximately $48.9 billion for United States Department of Agriculture programs. The Act defers collection of employer payroll taxes (6.2 percent of wages) until 2021. The assistance in the Coronavirus Aid, Relief, and Economic Security Act includes $14 billion to the Commodity Credit Corporation, the primary funding source for many farm programs. Under the CARES Act, the U.S. Department of Agriculture was allotted $9.5 billion to provide relief to farmers whose businesses have been affected by the coronavirus. The bulk of direct aid for agricultural businesses will come from funds allocated to the Office of the Secretary of the Department of Agriculture and the Commodity Credit Corporation… In the CARES Act, Congress sent $14 billion to replenish the CCC in the covid-19 relief bill.

And finally, as requested by many national agricultural organizations, the CARES Act allocated $23.5 billion for farmers and ranchers. AGRICULTURE & RURAL AMERICA » Funding USDA Commodity Credit Corporation Support for … The CCC has few restraints on how that money can be spent. Background
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One half of deferred taxes are due at year-end 2021 and the remainder are due year-end 2022. An important portion of this funding, $14 billion, is allocated as additional funding authority for the USDA Commodity Credit Corporation (CCC). The approximate $30 billion came from the Commodity Credit Corporation (CCC). $16 billion in direct payments for farmers and ranchers, funded using the $9.5 billion emergency program Senator Hoeven secured in the CARES Act and $6.5 billion in Credit Commodity Corporation (CCC) funding. 80-806)). Does the added Commodity Credit Corporation funding in the new CARES Act automatically mean there will be a third round of Market Facilitation Program payments (or something similar) in 2020? 112–166, Effective August 10, 2012] TABLE OF CONTENTS1 Sec. This article reviews the funding for USDA agencies and programs in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including reimbursement of Commodity Credit Corporation (CCC) expenditures, rural assistance and food assistance.

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