Date of this Version
Cornhusker Economics (February 5, 2014)
The Trade Adjustment Assistance Program (TAA) was part of the American Recovery and Reinvestment Act (ARRA) of 2009. The modified Trade Adjustment Assistance for Farmers Program provided producers of raw agricultural commodities (farmers, ranchers or fishermen), who had experienced significant declines in price or production because of foreign competition, educational and cash benefits. The Trade Adjustment Assistance Program for farmers and fishermen was reauthorized in 2012, however, it was left unfunded; therefore, TAA benefits will come to an end for farmers and fishermen throughout the United States. The final deadline for completion of the education phase of TAA, designed to help producers adjust to the changing economic environment brought on by opening up to global trade and the resulting import competition, was September 30, 2013. The program provided both cash benefits to eligible producers as well as educational assistance to help them create and implement a new business plan to better equip them to compete in the global economy.