Louisiana Congresswoman Julia Letlow has filed legislation that would help agricultural producers impacted by disruptions to the global trade market. Letlow says the bill would create a dedicated fund that would allow the Trump Administration to respond swiftly to trade-related losses.
“The president would then have the ability to deposit tariff revenues we collect on imported ag product into this account. Then, these funds could then be used to offset losses suffered by American producers due to market changes as a result of the tariffs,” Letlow said.
Letlow says it’s important that farmers receive financial assistance if they lose revenue, because of a decrease in exports, higher input costs and retaliatory trade barriers imposed by foreign countries. She says this measure would make sure farmers receive the support they need, while President Trump works to fix unfair trade practices.
“We’re collecting tariffs on goods being brought in from other countries and using those to make our farmers whole,” Letlow said.
The Republican, who serves Louisiana’s 5th Congressional District, says her legislation already has the support of the House Agriculture Committee.
“So, everybody seems to be on board. We are working with leadership and hey, who knows, it could come to the floor for a vote,” Letlow said.
Letlow says an exact time on when the legislation could receive a vote on the House floor is not known.
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