Top Democrat attempts to block Trump from paying farm bailout money, setting up battle over trade war tactics
By Jeff Stein and Mike DeBonis
September 12, 2019 at 10:32 a.m. EDT
House Appropriations Committee Chair Nita Lowey (D-N.Y.) is proposing to block the White House request over its farm bailout program, according to a draft of legislation reviewed by the Washington Post, potentially imperiling President Trump’s ability to direct payments to thousands of farmers.
The bailout program was created last year amid complaints from agriculture groups that China had stopped purchasing their crops in retaliation for new tariffs that the White House imposed on Chinese imports. Trump has ordered that billions of dollars in taxpayer funds be paid directly to farmers as a way to offset their losses.
The bailout hadn’t needed congressional approval up to this point, but now the timing of the payments is tied to congressional approval.
The Department of Agriculture is planning to spend upwards of $28 billion in payments over two years, but the Depression-era program Trump is using for the program has an annual $30 billion borrowing limit that they are expected to hit this year before the second round of payments.
more:
http://beta.washingtonpost.com/business/2019/09/12/top-democrat-attempts-block-trump-paying-farm-bailout-money-setting-up-battle-over-trade-war-tactics/?wpisrc=nl_most&wpmm=1
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