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Cotton farm in California. Photo: Citizens of the Planet/Education Images/UIG via Getty Images

As of Monday, the Trump administration has made $8.52 billion in direct payments to farmers through a 2018 aid program designed to counter losses stemming from the trade war with China, a U.S. Department of Agriculture spokesperson said.

Why it matters: President Trump promised aid of up t0 $12 billion, but the program stalled during the month-long government shutdown and major flooding in the Midwest has caused farmers additional pain. A prolonged trade war, which seems to be where the U.S. and China are headed, could force the Trump administration to renew the program.

Details: When this portion of the trade mitigation program was created in September last year, farmers were supposed to receive a payment at 50% of the producer’s total production, capped at $12 billion. This also includes support of up to $1.2 billion through commodity purchases and $200 million allocated to developing foreign markets.

Sen. Mike Rounds (R-S.D.) called on the Agriculture Department to count those acres affected by floods as part of the reimbursement program.

  • "We think thats got to be changed and that would go a long ways in terms of helping our producers," he said at an Axios event.

Top commodities that received aid:

  • Soybeans
  • Corn
  • Wheat
  • Cotton
  • Sorghum

Top states that received payments:

  • Illinois
  • Iowa
  • Kansas
  • Nebraska
  • Indiana

Go deeper:

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.