To establish a Tariff Response and Damages to Exports fund, and for other purposes.
Agriculture: New Relief Fund for Farmers
This bill is currently in the early stages of the legislative process and is being reviewed by the House Committees on Ways and Means and Agriculture. It has not been scheduled for any further action at this time. The bill is considered active but is not currently moving forward.
Legislative Progress
Most bills introduced in the House do not become law. While helping farmers is popular, this bill changes how the government spends tax money, which usually leads to long debates in committee.
Key Points
- This bill creates a new program called the TRADE Fund to help American farmers who lose money because of international trade disputes. It aims to protect people who grow crops or raise livestock from financial hits they cannot control.
- The money for this fund would come from taxes the U.S. collects on food and agricultural products imported from other countries. Instead of that money going into the general government budget, it would be set aside specifically for farmer relief.
- Farmers could receive payments if they lose access to foreign markets, face new trade barriers, or see their costs go up because of trade issues. This includes help if it becomes more expensive to buy the tools and supplies needed to run a farm.
- The Secretary of Agriculture would decide which farmers qualify for the help. They would also have to send a report to Congress every year explaining how much money was collected and exactly how it was given out to producers.
- This program is designed to be temporary and would end in September 2030. Any money left in the fund at that time would be returned to the general Treasury.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
To establish a Tariff Response and Damages to Exports fund, and for other purposes.
Data Sources
Sponsor
Cosponsors
(2)Analysis generated by AI. Always verify with official sources.