February 5, 2020/Media

Report: NC Family Farmers “Hit Hard” By Tillis-Trump Trade War as Bankruptcies “Spiked”

North Carolina farmers warned Senator Tillis that his support for the president’s trade war was “costing them.” Now, we are seeing that cost. 

North Carolina family farms experienced a “significant jump in bankruptcy filings” last year — the “highest increase since 2010, the year after the Great Recession — thanks in part to “headwinds on the trade front” from Senator Tillis and President Trump’s tariffs. 

Tillis has long tried to brush away the damage the tariffs have caused North Carolina famers, saying that farmers will feel “some pain” and admitting that tariffs are a “tax” on families. 

Farmers, meanwhile, have expressed their concerns with Senator Tillis, which he’s returned by turning a blind eye. One farmer said, “We are desperate for something to happen.” Another said “it’s going to be very hard to make ends meet,” while another worried that families like theirs will have to “sell some of our land.” 

Last year, North Carolina farmers even told Senator Tillis in person that farmers are “paying the brunt” of the costs and that the trade war is causing a “considerable higher hit” for North Carolina farmers. They also criticized the relief aid – which now has cost more than double the 2009 auto bailout and which some NC farmers have not received “one penny” of – saying, “Those relief programs have not done for agriculture what was needed.” Yet Tillis continues to put blind loyalty to the president before what’s best for our farmers.

Charlotte Observer: Carolinas hit hard as US family farms declaring bankruptcy spiked in 2019, data shows
By Hayley Fowler
January 31, 2020

Key Points:

  • The number of family farms filing for Chapter 12 bankruptcy last year spiked 20 percent nationally, according to a study by the American Farm Bureau Federation. That’s the highest increase since 2010, the year after the Great Recession ended.
  • The jump “was not unanticipated given the multi-year downturn in the farm economy, record farm debt, headwinds on the trade front and recent changes to the bankruptcy rules,” the Farm Bureau said.
  • Still, it was a hit for the Carolinas.
  • Both saw a significant jump in bankruptcy filings last year.
  • According to the Farm Bureau, there were 16 filings in North Carolina in 2019 — a 33 percent jump from 2018 — and 10 in South Carolina, more than three times higher than the 2018 total.

Read more about Senator Tillis putting loyalty to the president before North Carolina farmers:

 

###