The Inflation Reduction Act, part of Biden’s commitment to addressing historical injustices, includes a total of $5.3 billion dedicated to offering relief to tens of thousands of farmers across the country.
The U.S. Department of Agriculture announced that applications are now being accepted for the Discrimination Financial Assistance Program, which aims to provide financial aid to farmers, ranchers, and forest landowners who have experienced discrimination in USDA farm lending prior to 2021. A study conducted in May 2022 revealed that Black farmers had lost over $326 billion in land value throughout the 20th century.he Washington Informer reported in 2022 that researchers considered that figure to be a conservative estimate of the actual financial impact racist practices have had on Black American farmers since 1920.
However, the plan was scuttled after white farmers filed lawsuits claiming that the earmarking of funds specifically for Black farmers amounted to discrimination. The report detailed how the USDA impeded Black farmers’ access to critical federal funds through discriminatory loan denials and deliberate delays in financial aid.