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Producer Impacts of COVID-19 Recovery Programs

Rob Holcomb and Megan Roberts

Summary

Since the beginning of the COVID-19 pandemic, several pieces of legislation were signed into law, including the Families First Coronavirus Response Act (FFCRA)(P.L. 116-127), the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), and the Consolidated Appropriations Act, 2021 (CAA)(P.L. 116-260). These three massive pieces of legislation created several COVID-19 related relief programs, including the Payroll Protection Program (PPP), Economic Injury Disaster Loans and Advances, and the Employee Retention Credit. The passage of CAA extended all these programs into calendar year 2021. This presentation will provide an overview of how these programs impact farmers and ranchers. Specifically, the presentation will address qualifications, the application and forgiveness process, and tax consequences.

Details

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