Clock ticking on stimulus, investing talks


With aid from Helena Bottemiller Evich

Editor’s Note: Weekly Farming is a weekly variation of POLITICO Pro’s day-to-day Farming policy newsletter, Early morning Farming. POLITICO Pro is a policy intelligence platform that integrates the news you require with tools you can utilize to act on the day’s greatest stories. Act on the news with POLITICO Pro

IT’S THE FRIDAY COUNTDOWN! Hint the shutdown clocks: Financing for the Farming Department, FDA and other federal companies ends at the end of the week. However that’s not even the greatest legal whale that legislators are wishing to land prior to they leave town for the vacations, now that talks over coronavirus relief are back on. To put it simply, get ready for hell week on Capitol Hill.

The current: Bipartisan mediators resolved the weekend to settle a $908 billion rescue bundle, and they’re intending to submit the legal text any day now. The procedure would designate another $26 billion to food help and farm programs, in addition to $10 billion each for broadband efforts and the Postal Service, according to a broad structure. Small companies would navigate $288 billion in emergency situation loans and other assistance.

However, however, however: The strategy eventually requires a stamp of approval from congressional leaders and the Trump administration. And now that the stimulus and spending talks are largely linked, reaching a general arrangement on both products ends up being an even much heavier lift with a diminishing calendar.

Send the punt group: That suggests Congress is on track to pass another short-term substitute to keep the federal government’s lights on for another week approximately while legislators attempt to settle their coronavirus action and an omnibus appropriations bundle for the remainder of the year.

Truth check: There’s a factor Congress hasn’t authorized a significant help bundle considering that April. Regardless of indications of development recently, partisan disagreements stay over financial assistance for state federal governments and liability defense for companies. Those very same problems, plus dispute about the general price, have actually tripped up settlements considering that the summertime.

If record-high Covid cases and deaths aren’t enough to require an advancement, the pandemic action and a last federal government financing bundle might be kicked to the early days of the Biden administration. That would mark another failure by Washington– however it’s not the worst-case result. The catastrophe circumstance is an extended shutdown that hinders continuous coronavirus relief efforts (along with the governmental shift). That appears not likely at this moment, however we can’t rule anything out in 2020.

PLEASED MONDAY, DEC. 7! Welcome to your Weekly Ag report, where “lab-grilled meat” sounds lovely practical to your host. Send out pointers to [email protected] and @ryanmccrimmon, and follow us @Morning_Ag.

AG LEADERS CONSULT WITH BIDEN GROUP: The leaders of significant farmer and product groups met President-elect Joe Biden’s shift group for USDA on Friday– practically, obviously.

Structure trust: ” It’s my obligation to attempt to construct a bridge of trust with the brand-new administration that’s can be found in,” stated Zippy Duvall, president of the American Farm Bureau Federation, who took part in the Ag CEO Council conference Friday. It wasn’t his very first contact with the shift group. Duvall informed POLITICO he got a call from Robert Bonnie, head of the Biden evaluation group for USDA, on a current Saturday and they invested about an hour on the phone discussing different problems.

More markets, please: Leaders pushed the requirement for much better market gain access to throughout the conference, Duvall stated. “We understand that there were a great deal of federal payments this year and we require to have strong markets so we can make our cash in the market,” he stated.

More help in 2021? Duvall stated it “still stays to be seen” just how much help farming manufacturers will require in 2021. Everything depends upon Covid-19, trade conditions and product rates, he kept in mind.

The council raised a number of the problems that it flagged in a briefing document for the transition previously this fall, which competed that the financial health of farming is “bad and degrading” regardless of record federal government payments. Other leading problems provided consist of a Covid-19 vaccine, trade arrangements, biofuels, research study, rural broadband, labor, facilities, sustainability and environment.

A farmer ag secretary? Duvall stated the group did not weigh in on whom it may choose to lead USDA under Biden, however he stated he informed Bonnie that the Farm Bureau wish to see somebody who has actually farmed in their adult life. “If not, then somebody that has a deep understanding of the problems,” he stated, keeping in mind that a great deal of individuals fall under that classification.

A HISTORICAL HOME VOTE ON MARIJUANA: The chamber on Friday voted 228-164 to pass landmark legislation that would ditch federal charges on cannabis and eliminate cannabis-related rap sheets. It’s a huge action for cannabis supporters, even if the expense is dead on arrival in the Senate, reports Pro Cannabis’ Natalie Fertig.

What it signifies: The vote shows a consistent shift in U.S. and international views on cannabis over the previous years. Surveys reveal that assistance for legalization has actually reached 68 percent considering that Colorado and Washington state legislated weed in 2012. One in 3 Americans now reside in a state where cannabis is legal for grownups to utilize.

What’s next: Your home is likewise set to vote today on legislation that would make medical marijuana research study simpler, an effort that has larger assistance than legalization in both celebrations and both chambers. Natalie has more for Pros.

STAGE ONE UPDATE: U.S. exports to China are still well listed below the speed required to satisfy the Trump administration’s targets under its partial trade arrangement with Beijing, even after the sale of items to China struck a record high in October, Pro Trade’s Doug Palmer reports.

The current Commerce Department trade information released on Friday shows China’s increased farm purchases in current months as it recuperates from the pandemic and works to renew its pork supply.

By the numbers: China accepted accelerate its buy from the U.S. by an additional $76.7 billion this year compared to 2017 levels (and by a lot more in 2021). The last numbers for 2020 will not be launched till February, however the October information reveals Chinese imports had to do with $8 billion lower than throughout the very first 10 months of 2017. To put it simply, China requires to purchase another $140 billion worth of U.S. items in between Nov. 1 and Dec. 31.

RECENTLY TODAY– Here’s your post-weekend refresher on the greatest news you may have missed out on.

New names drifted for Biden’s USDA chief: The jockeying over Biden’s option for Farming secretary has actually been controlled by Rep. Marcia Fudge (D-Ohio) and previous North Dakota Sen. Heidi Heitkamp. However there are a number of fresh faces in the mix: Kathleen Merrigan, who was deputy Ag secretary under President Barack Obama, and Arturo Rodriguez, previous president of the United Farm Employees union. Even Obama’s previous USDA chief, Tom Vilsack, is now viewed as a possibility. Don’t miss the latest from our POLITICO team.

Trump’s last farm economy progress report: USDA jobs farm earnings will rise to nearly $120 billion this year, the greatest level considering that 2013– however taxpayer aids represent almost 40 percent of net revenues. The spike in earnings is not a surprise, as Congress and the Trump administration have actually flooded the farm economy with money this year, however it highlights the predicament Biden deals with in regards to extending the payments or winding them down in 2021, your host reported for Pros.

Satisfy your next Home Ag leaders: Reps. David Scott (D-Ga.) and G.T. Thompson (R-Pa.) will direct the Farming panel beginning in January as chairman and ranking member. The long time legislators were chosen by their particular celebrations over a number of other competitors. Scott will prosper Chairman Collin Peterson (D-Minn.), who lost his re-election quote last month, while Thompson takes control of for the retiring Rep. Mike Conaway (R-Texas).

— Democrat Rita Hart’s six-vote loss in Iowa’s second District, accredited recently, finished up an unpleasant 2020 cycle for Democrats in the Hawkeye State, writes POLITICO’s David Siders. The celebration’s Iowa fumbles begun with the messed up caucuses in February and ended with a wipeout on Election Day, as President Donald Trump squashed Biden in the state, GOP Sen. Joni Ernst easily won reelection and Republicans turned 2 Home seats.

— States are bypassing federal regulators and setting their own guidelines for office security amidst the pandemic, like needing companies to provide masks and upgrade personnel on contaminated colleagues. The patchwork of policies might be a plan for nationwide standards guaranteed by Biden, write POLITICO’s Katherine Landergan and Katy Murphy.

— The weight problems epidemic in the U.S. expenses almost $1.4 trillion, according to a brand-new report from the Milken Institute. The current price quote utilizes 2018 figures, so it does not consider the sky-high financial, social and healthcare expenses of Covid-19, a pandemic that’s intensified by diet-related illness. The full report is here.

— Cheesecake Factory will pay $125,000 to settle federal charges originating from unreliable monetary disclosures, in the SEC’s very first case versus a public business for deceptive financiers about the pandemic’s influence on its dining establishments. Pro Financial Services’ Kellie Mejdrich has the details.

— The Trump administration’s “public charge” guideline has actually triggered immigrant households to rely on food banks throughout the pandemic rather of federal government food help, out of worry that utilizing federal safeguard programs will threaten their access to permits or visas. The New York Times has more.

— NOAA is set to handle a greater profile under the Biden administration as the inbound president concentrates on environment modification. The Washington Post reports that NOAA veteran Monica Medina is a leading prospect to lead the firm, which supervises weather condition forecasting, ocean research study and fishery management, to name a few clinical locations.

— Senate Democrats from seaside states are asking the GAO to examine how USDA can better assist fisheries by raising the volume and range of seafood items purchased by the department’s Product Procurement Program. Read their letter here.

— New York City Gov. Andrew Cuomo signed legislation prohibiting the sale of food product packaging which contains PFAS, referred to as “permanently chemicals” since they do not break down. It’s the 3rd state to enforce such constraints, after Maine and Washington. More from Consumer Reports.

— Federal inspectors at meatpacking plants are being informed to stay at work after direct exposure to the coronavirus, according to staff members who grumble that USDA isn’t doing enough to keep them safe. Government Executive has the story.

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