U. S. Rep. Abby Finkenauer on Thursday introduced legislation to allow farmers to use money from a key pandemic-related federal aid package to pay for…
U. S. Rep. Abby Finkenauer on Thursday introduced legislation to allow farmers to use money from a key pandemic-related federal aid package to pay for rentals of equipment, land and buildings.
The Expanding Assistance to Farmers Act of 2020, co-sponsored by Congressman Dan Bishop, R-North Carolina, would clarify the rules governing the Paycheck Protection Program (PPP), which is aimed at helping small businesses continue to operate.
Finkenauer, an Iowa Democrat, chaired a Rural Development, Agriculture, Trade and Entrepreneurship (RATE) subcommittee forum in May. During that session, dairy farmer Rick Ebert of Burnsville, Pennsylvania, president of the Pennsylvania Farm Bureau, noted that federal guidance to agricultural operations has been piecemeal, and rural lenders have been slow to approve loans.
PPP is a forgivable loan program created to help small businesses recovering from the economic slowdown caused by the COVID-19 pandemic.
“Our family farmers and producers are small businesses, too, and there’s no reason they should be concerned about whether they can use their small business aid to cover some of their basic business expenses,” Finkenauer said in statement.
