USDA Unveils Details Of $16 Billion Farm Aid Package

The New York Times reports:

The Trump administration on Thursday unveiled details of a $16 billion aid package to help farmers hurt by President Trump’s trade war with China, as soybean growers from around the country converged on Washington to tell lawmakers that rural America is ready for a cease-fire. The Agriculture Department said that the payments to farmers, which were first announced in May, would be made in three tranches in the next six months.

The first aid package drew criticism that it favored some products over others and attracted backlash after a study that found city residents who own shares in farms and relatives of farmers have been capitalizing on the bailout. This time around, payments will be determined based on a farm’s size and location, with rates of $15 to $150 an acre. The size will depend on the effect of retaliatory tariffs in a particular county. No applicant can receive more than $500,000 worth of aid.