Legislature Approves $15 Million In Loans To Farmers Amid Rainfall

The Michigan House and Senate have both approved a bill setting aside $15 million to be used for low-interest loans to farmers who have suffered losses due to wet weather. The plan cleared both legislative chambers on Thursday, and Governor Gretchen Whitmer is expected to sign the bill. The spending would cover upfront loan-processing fees and subsidize lenders so they can provide 1% interest rates to farmers, processors and others in the agriculture industry. Voting in favor of the bill was state Senator Kim LaSata, who says “Michigan’s agriculture industry has been deeply impacted by the overwhelmingly wet spring weather our state has experienced this year, and they need some help.” Many farmers have had trouble planting crops because of the seemingly endless rain.