Weekly Food & Agriculture Update 7.29
WEEKLY FOOD & AGRICULTURE UPDATE
July 29, 2019
A quick look at what’s happening in Washington, D.C. that’s impacting food and agriculture. If you would like to subscribe to the receive the updates right to your inbox, please contact Marissa Dake.
Big Picture Outlook
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Budget Update- The House passed a two-year, $2.7 trillion budget deal in a 284-149 vote before they left town for recess on Thursday evening. The agreement does not fund the government, but does raise the debt ceiling until 2021, sets spending levels for this year’s budget and eliminates budget caps. The Senate will vote on the bill this week and President Trump is expected to sign it into law.
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USDA Releases Trade Aid Details- On Thursday, USDA released details on the Market Facilitation Program (MFP), which is the direct payment component of the Trade Aid package. Farmers will receive payments on a per-acre, county rate, with per acre rates ranging from $15-$150. Prevented plant acres with FSA-certified cover crops planted before August 1 will qualify for a $15 per acre payment. Sign-ups for the program began today and end on December 6, 2019. Payments will be broken into up to three tranches; the first payment is set to be released in mid-to-late August.
The Week Ahead
Tuesday, July 30, 2019
- The Senate Finance Committee will hold a hearing on “The United States-Mexico-Canada Agreement.”
Wednesday, July 24, 2019
- The Senate Ag Committee will hold a hearing on “Perspectives on Reauthorization of the US Grain Standards Act.”
MTA In Action
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A Quick Look Back
- Witnesses At Hemp Hearing Provide New Industry Update
- House Judiciary Advances Farmer Bankruptcy Assistance
- Senate Homeland Security Approves Bill To Hire More Inspectors
- African Swine Fever Impacting Chinese Protein Markets And US Pork Exports
- China Allows Some Tariff-Free US Cotton, Pork Purchases