The USDA’s portion of the Biden administration’s proposed fiscal 2024 budget would provide $5.6 billion in guaranteed farm operating and ownership loans, the same amount USDA recommended for the 2023 budget cycle.
Details: The USDA budget:
Provides $2.118 billion in operating guarantees and $3.5 billion in ownership guarantees with only a net cost of $1 million to the government from operating loans.
Lays out several recommendations for beginning farmers.
Supports $2 billion in Business &Industry loan guarantees, an increase of $200 million from the 2023 level.