The United States Department of Agriculture is now accepting applications from farmers and ranchers that have been adversely affected by recent tariffs to receive relief under its Market Facilitation Program. The program will provide payments to eligible producers of corn, cotton, sorghum, soybeans, wheat, dairy or hogs.
To be eligible, producers must have an ownership interest in the commodity and be actively engaged in farming; have an average adjusted gross income for tax years 2014, 2015 and 2016 of less than $900,000 per year; be in compliance with certain conservation regulations; and be able to provide verifiable production records by crop, type, practice, intended use and acres if requested by the Farm Service Agency.
Payments will be based on 50 percent of the farmer or rancher’s production and will be capped at $125,000 per person or legal entity. Payments will be sent directly to the applicants. Bankers should direct their customers to farmers.gov/mfp for more information.