WASHINGTON - U.S. Senate Committee on Agriculture, Nutrition, and Forestry Chairwoman Debbie Stabenow (D-Mich.) today welcomed news from the U.S. Department of Agriculture that it will leverage American Rescue Plan Act funds to create the Food Supply Chain Guaranteed Loan Program. USDA will provide $100 million in loan guarantees, which will allow small- and mid-sized meat processors and others in the food industry access to nearly $1 billion in private investment in processing and food supply infrastructure. Chairwoman Stabenow led the effort to secure $4 billion in funding for supply chain resilience in the American Rescue Plan.
“If we want to strengthen our food supply chain, we need to expand meat and poultry processing capacity-and that’s exactly what we’re doing thanks to the American Rescue Plan," said Senator Stabenow. “These investments will help improve the resilience of the supply chain; create opportunities and jobs for farmers, ranchers and others in the food industry; and increase access to U.S.-raised products for all consumers."
Source: U.S. Senate Committee On Agriculture, Nutrition, & Forestry
