WASHINGTON - U.S. Senate Committee on Agriculture, Nutrition, and Forestry Chairwoman Debbie Stabenow (D-Mich.) today welcomed news from the U.S. Department of Agriculture that it will leverage American Rescue Plan Act funds to create the Food Supply Chain Guaranteed Loan Program. USDA will provide $100 million in loan guarantees, which will allow small- and mid-sized meat processors and others in the food industry access to nearly $1 billion in private investment in processing and food supply infrastructure. Chairwoman Stabenow led the effort to secure $4 billion in funding for supply chain resilience in the American Rescue Plan.
“If we want to strengthen our food supply chain, we need to expand meat and poultry processing capacity—and that’s exactly what we’re doing thanks to the American Rescue Plan,” said Senator Stabenow. “These investments will help improve the resilience of the supply chain; create opportunities and jobs for farmers, ranchers and others in the food industry; and increase access to U.S.-raised products for all consumers.”