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On Thursday, March 11, President Biden signed into law the $1.9 trillion pandemic aid package. This legislation provides $1,400 direct payments to taxpayers making up to $75,000 individually or $150,000 per couple. The checks phase out above that level, going to zero at $80,000 per individual and $160,0000 per couple. Also, it extends federal pandemic unemployment benefits for gig workers and the long-term unemployed through September 6, 2021, at the level of $300 per week. In addition, the bill provides $4 billion to the United States Department of Agriculture (USDA) for food supply chain and agriculture pandemic response. The legislation includes a provision to “make loans and grants and provide other assistance to maintain and improve food and agricultural supply chain resiliency”, which could be a unique opportunity for our industry. Stay tuned for more information regarding that provision, as we expect more guidance from USDA in the coming weeks.
Read the final bill HERE.