Trump promises $8 billion in relief to farmers reeling from high diesel costs
American farmers reeling from record-high diesel prices are getting $8 billion in relief from the Trump administration.President Trump announced the move as both harvest season and the midterm elections near.“Tonight I’m also pleased to announce that the Department of Agriculture will be launching a new Harvest Fuel Relief program, providing our farmers with $8 billion in support to offset diesel costs during this harvest season,” he said at a Monday night rally in Kansas, where he was stumping for GOP Sen.Roger Marshall.“And when the Republicans win, we will pass even more funding for our farmers.
We love our farmers,” he added.Diesel prices are up a painful 75% over the past year, hitting a recent peak of $6.53 a gallon on Sept.22.
Since then, the cost has eased a bit, to $6.32 as of Tuesday, according to AAA.The new “Harvest Fuel Relief” program will provide “simple, proportional support to producers using a uniform formula to cover a portion of modeled losses during the 2026 crop year,” according to the Department of Agriculture.Specific payouts will be based on Farm Service Agency data, the department added.Back in December, the feds offered a similar program, paying out $12 billion to more than 560,000 farmers hurt during the US’ trade wars as they dampened international demand for their goods.This time, the payment program is aimed at addressing high costs during the war on Iran.Oil supplies were badly disrupted by the closure of the Strait of Hormuz, and ongoing Houthi attacks on Saudi oil facilities threaten to keep prices unstable.Along with diesel fuel, nitrogen fertilizer is up.It’s been a rough year for farmers.
Monthly Chapter 12 bankruptcies, which restructure debt, reached a six-year high in April, according to Law360.The American Farm Bureau Federation applauded Trump’s new policy.“Farmers and ranchers welcome the administration’s announcement of $8 billion in relief through the Harvest Fuel Relief program to help fa...