WASHINGTON — President Joe Biden on Wednesday will go to a household farm in Illinois to announce steps the administration is taking to lower the costs of farming and food.
The White House says the Covid pandemic and Russia’s invasion into Ukraine have contributed to provide chain disruptions, rising food costs and shortages within the U.S. and overseas.
“Putin’s unjustified invasion of Ukraine has cut off a critical source of wheat, corn, barley, oilseeds, and cooking oil,” the White House mentioned. “It has also disrupted global supply chains for fertilizer, which farmers depend on to maximize yields.”
As a results of the pandemic and Russia’s invasion, food costs have elevated by almost 13 p.c all over the world, the White House mentioned.
Biden’s trip to the Midwest comes as he tries to reveal that his administration is taking actions to convey down inflation, a difficulty Republicans have targeted on within the midterm election campaigns. The president delivered a speech Tuesday about efforts to tamp down inflation, arguing that GOP lawmakers haven’t got a concrete plan to handle the problem.
During the farm go to, the president plans to announce that his administration will increase insurance coverage for double cropping, which permits farmers to plant a second crop on the identical land in the identical 12 months. He’ll additionally announce that the federal government will enhance technical help to farmers and double funding for producing fertilizer domestically.
“As the world’s second largest exporter of wheat and soybeans, these actions will help grow new markets for American-grown food, supporting jobs in rural communities across America,” the White House mentioned.
Biden has been blaming what he dubs “Putin’s price hike” for the present financial scenario within the U.S., saying the conflict in Ukraine has led to rising inflation and record-high fuel costs.
Last month, Biden introduced plans to enhance the manufacturing and sale of ethanol-blended gasoline in an effort to lower excessive fuel costs amid rising inflation. He mentioned the Environmental Protection Agency would concern an emergency waiver to droop a summer time ban on using a blended gasoline.