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Changes to PPP could help farmers, other ag industry worker

Ag/Outdoor, News

February 19th, 2021 by Ric Hanson

(Radio Iowa) — Changes members of Congress made to the Paycheck Protection Program could mean bigger payments to Iowa farmers who’ve seen their operations hurt by the pandemic. Iowa Farmers Union president Aaron Lehman says those tweaks to the program were much-needed.

Lehman says, “Our folks out in the field have really struggled just to tighten their belts and make ends meet and the pandemic caused all sorts of trouble, up and down the line, for farmers and for people involved in all aspects of our food system.” Under recent P-P-P provisions, Lehman says that money won’t be taxed as income and won’t affect any deductions farmers may take.

Lehman says federal aid is critical for agriculture, especially since farmers and ranchers have a long road to economic recovery following the pandemic.

Farmers and small businesses can apply for P-P-P loans through their traditional lenders such as banks and farm credit institutions.