White House to invest $1 billion to boost competition in meat-processing industry and lower consumer prices
CNN
The White House on Monday announced it would allocate $1 billion in funding from the American Rescue Plan to independent meat and poultry producers as part of an effort to boost competition in the meat-processing industry and lower prices for consumers.
President Joe Biden on Monday will meet virtually with family and independent farmers and ranchers to discuss his administration's plan to create "a more competitive, fair, resilient meat and poultry sector," according to the White House. Attorney General Merrick Garland and Secretary of Agriculture Tom Vilsack will also attend the meeting.
The announcement comes as food prices -- particularly for beef -- skyrocket and inflation remains a top concern of the White House. Persistent global supply chain issues and the emergence of the Omicron variant of Covid-19 threaten to prolong these rising prices.
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