Justice for Black Farmers Act from Cory Booker and Elizabeth Warren
(nationalfile.com)
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Reading through the bill it looks like they want to do at least 20,000 land grants of up to 160 acres per farmer from land purchased from "willing sellers". They've earmarked $80 Billion for this. If I did the maths right that's at most about $2750 an acre the government would pay for land. Outside of northern Missouri I don't know anywhere else that has decent farmland going for below $4000 an acre market price right now. I know because I just bought another 100 acres last month.
But that's the land and 160 acres isn't enough to make it these days. A small family farm is pushing 3000 acres. Regular guys now are farming 8000 acres and the big guys are farming between 15,000 - 20,000 acres around us.
On top of that you need equipment. Even a used combine is going to run you over $200,000. Used ag tractors in good shape are going to run about $100,000 ea. Plus you need to have another hundred grand in cash for when something breaks. Last time our combine broke down in field it was a $40,000 repair. It takes anywhere from $700 - $1200 an acre to plant most common row crops like Soybeans, Corn, etc.. That's cash you have to have on hand. It took us about $1.8M in cash to plant 2800 acres give or take each year.
Yeah...you want to start a civil war....this would do it.