US Awards Black Farmers $2.2 billion
Baskerville, Va. July 31, 2024 — The National Black Farners Association (NBFA) has won a $2.2 billion payout for discrimination in farm lending from the United States Department of Agriculture (USDA). This payout results from the Inflation Reduction Act Section 220007, signed into law by President Biden this year.
About 43,000 farmers will each receive up to $500,000 with the average award being $82,000. These funds are meant to provide financial assistance to farmers who have experienced racial and other forms of discrimination from the USDA prior to 2021.
The NBFA was founded by John Boyd 40 years ago.
Despite the progress, there are still challenges for Black farmers, Boyd said. These include banks denying them funds and farms ownership loans, as well as recent allegations of racial discrimination by companies like John Deere.
Boyd had endured hate phone calls and death threats. However, he says it has been worth it.
Boyd has had his sights set on John Deere for years. Why are people boycotting John Deere?
John Deere has refused to participate in the NBFA’s annual conference or display new equipment and parts as it does at other agricultural industry events. After NBFA members purchase from Deere, the company responds slowly if at all to calls for service on its equipment. Then Deere shuts down its tractors by computer connections if owners try to make repairs themselves.
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