The Inflation Reduction Act passed by Congress in August is providing many things to many people, including paying down the debt of 11,000 farmer borrowers who were delinquent on their FSA direct or guaranteed loans.
So how did the Inflation Reduction Act, which was supposed to be aimed at rebuilding the nations transportation infrastructure, come to help distressed borrowers who had fallen behind on their Farm Service Agency loan payments.
Thats a complicated story dating back to the 1990s when a group of Black farmers filed the first in a series of lawsuits claiming the U.S. Department of Agriculture had discriminated against them in making crop production loans and providing other farm program benefits.
Stephen Carpenter, deputy dir…
Read the full article at: https://www.farmprogress.com/finance/winding-path-leads-debt-relief-usda-borrowers