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The most visible component of the Act were the loans to individual farmers and their families. Under the act, farmers could borrow up to 50% of the value of their land and 20% of the value of their improvements. The minimum loan was $100 and the maximum was $10,000. Loans made through the Act were paid off through amortization over 5 to 40 years.
The Food, Conservation, and Energy Act of 2008 (Pub. L. 110–246 (text), H.R. 6124, 122 Stat. 1651, enacted June 18, 2008, also known as the 2008 U.S. Farm Bill) was a $288 billion, five-year agricultural policy bill that was passed into law by the United States Congress on June 18, 2008.
The bill included approximately $100 billion in annual spending for Department of Agriculture programs, around 80 percent of which was allocated for food stamps and other nutritional programs. [17] [24] [25] The 2008 Farm bill increased spending to $288Bn therefore causing controversy at the time by increasing the budget deficit.
China had been one of the leading importers of US agricultural products. [21] In 2017 China imported goods worth $19.1 billion, but due to tariffs imposed by China on agriculture products the number of imported goods fell to $9.1 billion. China purchased 14.3 million tonnes of US soybean, which is the lowest number in 11 years.
According to the California Department of Food and Agriculture, "California agriculture is a $42.6 billion dollar industry that generates at least $100 billion in related economic activity." [37] The state's agricultural sales first exceeded $30 billion in 2004, [33] making it more than twice the size of any other state's agriculture industry.
The United States Department of Agriculture (USDA) is an executive department of the United States federal government that aims to meet the needs of commercial farming and livestock food production, promotes agricultural trade and production, works to assure food safety, protects natural resources, fosters rural communities and works to end hunger in the United States and internationally.
California's Asian American population is estimated at 7.1 million, constituting a third of the nation's total. California's Native American population of 504,000 is the most of any state, with 103,030 identifying as Non-Hispanic and belonging mostly to the Indigenous peoples of California.
Proposition 218 was initially estimated to cost local governments in California at least $100 million per year with long-term cost estimates being much greater in the many billions of dollars per year, and Moody's Investors Service warned the initiative measure would cause "significantly declining credit quality."
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