At a White House roundtable last Monday, president Donald Trump, alongside Agriculture Secretary Brooke Rollins and a handful of other leaders in the government, announced a $12 billion farm aid program intended to offset the economic blowback that U.S. farmers have faced this year as a result of the president’s volatile trade policies.
But there’s a catch: only major commodity farming operations — such as those that grow corn, cotton, peanuts, rice, wheat, and soybeans — will be eligible for more than 92 percent of the money, which is scheduled to begin flowing in February. Just $1 billion of the bailout has been set aside for farmers who produce other crops; when those payments will be made available has not yet been announced.
The move is par for the course from the administration, which has allocated a near-record total of $40 billion in farm subsidies this year, with at least two-thirds of those payments having gone to commodity farms. But Trump’s latest billion-dollar bailout does much more than funnel even more cash into Big Ag, which accounts ... Read more
