US farmers receive more than $2 billion in loan relief from farm agency

The U.S. Department of Agriculture has distributed over $2.1 billion to more than 39,000 farmers in economic distress through a loan relief program funded by the Inflation Reduction Act, the agency said. The IRA, passed in August 2022, allocated $3.1 billion to the relief program, which enables USDA to make loan adjustments or payments for farmers at financial risk who hold direct and guaranteed loans through the agency. USDA loans can help farmers pay for land, equipment, feed, and other expenses.