Government Payments and Farming Economy
Farmers may experience a significant decline in net income in the coming years unless there is a turnaround in prices for row crops or a continuation of substantial government funding.
The agricultural economy is currently being supported by massive government funding packages. In December, Congress approved $31 billion in special farm assistance, including disaster aid.
Additional assistance is being developed, with the first round totaling approximately $12 billion to $13 billion, which the Trump administration plans to initiate using the USDA's Commodity Credit Corporation spending authority.
Farmers could face a sharp drop in net income in coming years barring a turnaround in prices for row crops or a continuation of the massive government funding packages.
Autor's resume: Farmers face funding cliff.