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From: BiteMe@Bitch.org

Almost 40% of farmers' income in 2021 to come from government insurance
and aid

Tariffs and adverse farming conditions are said to be a cause for
elevated Chapter 12 bankruptcy filings by farmers.


The United States Department of Agriculture is currently projecting farm
income to reach $88 billion in 2019. However, the American Farm Bureau Federation said in a new report that $33 billion, or almost 40%, of that
income will come in the form of federal disaster assistance, trade aid,
the farm bill and insurance indemnities.

The aid has been promised, but the report says farmers have yet to
receive a large portion of the assistance package, which has resulted in
record high farm debt. By the end of the year, that debt is expected to
reach a record $416 billion.

More and more farmers are filing for Chapter 12 bankruptcy, a code
designed specifically for family farmers with a regular annual income,
to create a repayment plan to their creditors over three to five years.

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