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Market Loss Assistance: Difference between revisions
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m (OpenBook moved page Market loss assistance to Market Loss Assistance) |
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|TopOrganization=Department of Agriculture | |TopOrganization=Department of Agriculture | ||
|CreationLegislation=Agricultural Risk Protection Act of 2000 (Public Law 106-224), Farm Security and Rural Investment Act of 2002 (Public Law 107-171) | |CreationLegislation=Agricultural Risk Protection Act of 2000 (Public Law 106-224), Farm Security and Rural Investment Act of 2002 (Public Law 107-171) | ||
|Purpose= | |Purpose=Market Loss Assistance program, run by USDA via Farm Service Agency, aids farmers hit by low prices or disasters with payments for crops like corn and dairy to stabilize income nationwide. | ||
|Website=https://www.fsa.usda.gov/programs-and-services/market-loss-assistance/index | |Website=https://www.fsa.usda.gov/programs-and-services/market-loss-assistance/index | ||
|ProgramStart=1999 | |ProgramStart=1999 | ||
|InitialFunding=$300 million | |InitialFunding=$300 million | ||
|Duration=Ongoing (ad hoc and emergency basis) | |Duration=Ongoing (ad hoc and emergency basis) | ||
|Historic= | |Historic=No | ||
}} | }} | ||
The '''Market Loss Assistance (MLA)''', established in 1999 under the Agricultural Risk Protection Act of 2000 and expanded by the Farm Security and Rural Investment Act of 2002, is administered by the Department of Agriculture (USDA) through its Farm Service Agency (FSA) to provide emergency payments to farmers, allocating over $20 billion since inception to support approximately 800,000 farms annually by 2025. Initially funded with $300 million, it has grown to distribute $1.5 billion in FY 2024 across 800,000 payments, funding losses for crops like corn and dairy at farms nationwide.<ref>{{cite web |url=https://www.fsa.usda.gov/programs-and-services/market-loss-assistance/index |title=Market Loss Assistance (MLA) |publisher=U.S. Farm Service Agency}}</ref> Despite its impact, challenges like funding unpredictability, eligibility disputes, and market volatility persist (web ID: 4), but it remains a key USDA effort to support farm economic stability. | The '''Market Loss Assistance (MLA)''', established in 1999 under the Agricultural Risk Protection Act of 2000 and expanded by the Farm Security and Rural Investment Act of 2002, is administered by the Department of Agriculture (USDA) through its Farm Service Agency (FSA) to provide emergency payments to farmers, allocating over $20 billion since inception to support approximately 800,000 farms annually by 2025. Initially funded with $300 million, it has grown to distribute $1.5 billion in FY 2024 across 800,000 payments, funding losses for crops like corn and dairy at farms nationwide.<ref>{{cite web |url=https://www.fsa.usda.gov/programs-and-services/market-loss-assistance/index |title=Market Loss Assistance (MLA) |publisher=U.S. Farm Service Agency}}</ref> Despite its impact, challenges like funding unpredictability, eligibility disputes, and market volatility persist (web ID: 4), but it remains a key USDA effort to support farm economic stability. | ||