US stimulus package must restore CCC's funding power: NCC

26 Mar '20

1 min read

Pic: Shutterstock

Commending the US Congress and the government for reaching an agreement on an economic relief and stimulus package to fight the COVID-19 disruption, National Cotton Council (NCC) chairman Kent Fountain recently said the bill must include restored funding authority for the Commodity Credit Corporation (CCC) and dedicated funding for producers.

That would help the US Department of Agriculture (USDA) develop relief measures for the entire agriculture sector in response to the economic losses and business disruption caused, he said in a statement.

“We believe this is a good first step towards addressing the needs of the agricultural economy, but more funding authority will likely be needed once there is a better assessment of the full impacts of the current crisis,” Fountain said.

NCC is assessing economic impacts and losses across the US cotton industry and will work with USDA and Congressional leaders on recommended policy options to respond to these urgent needs being felt across the industry from producer to textile manufacturer.

These overarching needs are outlined in a recent letter from Fountain to USDA secretary George Ervin Perdue and members of Congress.

Fibre2Fashion News Desk (DS)

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