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(Washington D.C.) -- A proposed military aid supplemental package tied to the conflict in Iran may also include $15 billion in assistance for American farmers. The shutdown of the Strait of Hormuz has driven up the cost of oil and fertilizer, increasing input expenses as farmers head into the growing season.
Iowa Senator Chuck Grassley says there may be better ways to help farmers manage rising costs without relying solely on federal payments.
“I would suggest that we put E‑15 nationwide, year‑round in this bill instead of the $15 billion, or even in addition to the $15 billion,” Grassley said. “I’m hearing from farmers that they don’t want more money out of the Treasury; they want money out of the marketplace.”
Economists with the National Corn Growers Association estimate that year‑round E‑15 could generate about $14 billion in additional revenue for corn farmers.