President Biden plans to visit a family farm in Kankakee, Illinois today, along with Agriculture Secretary Tom Vilsak, to discuss the global rise in food prices, as the war in “breadbasket” Ukraine is contributing to shortages.
Here at home, family farmers are suffering because of inflation — rising fuel prices, fertilizer prices, equipment and other farming necessities.
Agriculture Secretary Tom Vilsak told a Senate Appropriations subcommittee on Tuesday that the family farm is “something that I think we all ought to be concerned about.”
“There are 61,670 farm families in America today that are on the brink. 61,670 farm families that are either delinquent in their loans to USDA or bankrupt or are pending foreclosure. This is a serious issue that — and I’m — I’m pretty confident that every single member of this committee probably has a number of those 61,000 farmers living in their states.
“It’s important and necessary for us to put a spotlight on the challenges. Now these are people who have borrowed from USDA or who have had a guaranteed loan from USDA, which means that they haven’t been able on their own to go to a commercial bank and be able to secure financing. So these are folks who need help. They need assistance. – READ MORE