Farmers to get one-time payments from $8 billion program, Trump says: What to know

(NEXSTAR) – Farmers could soon receive one-time payments as part of an $8 billion program announced by President Donald Trump on Monday.

During a rally in Kansas, Trump unveiled the Harvest Fuel Relief Program, which he said is intended to “offset diesel costs during the harvest season.”

It comes at a time when diesel, in particular, has been especially high.

“Farmers and ranchers welcome the administration’s announcement of $8 billion in relief through the Harvest Fuel Relief program to help farmers struggling with high diesel prices,” American Farm Bureau Federation President Zippy Duvall said in a news release. “We appreciate President Trump and [U.S. Department of Agriculture] Secretary [Brooke] Rollins recognizing that higher diesel prices have squeezed farmers’ bottom lines.”

The USDA projects that net farm income will decline by 2.6% this year as production expenses rise by 4.5%. Fuel and oil expenses alone are expected to jump nearly 30%, according to the agency’s September forecast.

Payments from the program, however, likely won’t provide immediate relief.........

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