CONGRESSMAN BISHOP WELCOMES USDA CREATION OF THE COTTON GINNING COST SHARE PROGRAM
WASHINGTON, D.C. ─ Today, Congressman Sanford Bishop, Jr. (GA-02), member of the House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies, welcomed the U.S. Department of Agriculture’s (USDA) creation of the new Cotton Ginning Cost Share Program in order to expand and maintain the domestic marketing of cotton. Through the new program, cotton producers will be able to reduce their costs for the 2015 crop by an estimated $300 million nationwide.
“I commend the USDA and FSA for providing relief from the recent burden of high ginning costs endured by cotton farmers across Georgia and the entire nation,” said Congressman Bishop. “A vital program, the new Cotton Ginning Cost Share Program will provide much needed help to American cotton farmers, particularly during the most serious economic challenge faced by the industry in decades.”
Through the Cotton Ginning Cost Share program, eligible producers can receive a one-time cost share payment for their gin costs, which is based on a producer’s 2015 cotton acres reported to FSA, multiplied by 40 percent of the average ginning cost for each production region.
“I was humbled to work with farmers, agriculture stakeholders, my colleagues in the Georgia Congressional delegation, and Secretary Vilsack at USDA in order to provide much needed support to the cotton industry through the Cotton Ginning Cost Share Program,” concluded Congressman Bishop.
The program has the same eligibility requirements as were used for the 2014 Cotton Transition Assistance Program, including a $40,000 per producer payment limit, requirement to be actively engaged in farming, meet conservation compliance and a $900,000 adjusted gross income limit. Eligible producers will be able to sign up beginning June 20, 2016 through August 5, 2016 at their local FSA office.