The Trump administration is expected to announce a plan very soon to bail out U.S. farmers reeling from a perfect storm of factors causing a surge in bankruptcies. But recently published reports in both Politico and Reuters news agencies, say the White House has pushed back the roll out of economic aid to farmers because of the ongoing government shutdown, citing four people familiar with the talks, with an initial outlay potentially as high as $15 billion.
By the first half of this year, High operating costs, low commodity prices and the effects of tariffs had already led to more farms ‘going under’ than all of last year. That’s according to Assistant Professor and Extension Economist Ryan Loy at the Department of Agricultural Economics and Agribusiness at the University of Arkansas. Meanwhile, in Southwest Arkansas, six-term State Rep. DeAnn Vaught, R-Horatio, Ark., has recently spoken in support of farmers like herself, many of whom are on a razor’s edge financially. Vaught also fears this government shutdown may only exacerbate the situation further by delaying help for farmers even longer.
Vaught represents all those in Arkansas House District 87, which includes Little River County, along with portions of Sevier and Howard Counties. She has been asking the general public to take action, as well. “What I say though is our voice is very important. So, use your voice, contact your congress, congressional delegate and ask them to please vote yes to help our farmers out in Arkansas.
Right now, one in three farmers will be put out of business if we don’t figure out something.” Vaught made those most remarks while speaking on the Arkansas statewide syndicated radio program “Talk Business and Politics.”
In general, industry experts point to several factors causing challenges in agriculture profitability: China stopped buying U.S. soybeans, while U.S. wine exports to Canada have dropped by nearly 97%, all while the tree nut industry is facing financial pressures from rising expenses including everything from labor costs to equipment and inputs.
