Photo: Scott Olson/Getty Images

More than 50% of federal aid meant to help American farmers cope with the negative impacts of the U.S.-China trade war went to the largest and wealthiest farms, according to a new study of Department of Agriculture data.

Why it matters: The Trump administration prioritized aid to farms that produced high volumes of specific crops, leaving smaller farms behind, per the study. Senate Finance Committee Chairman Chuck Grassley (R-Iowa) says the findings illustrate a need for "payment caps" on the aid, reports Bloomberg.

By the numbers: The analysis covered $8.4 billion in USDA's Market Facilitation Program payments to more than 563,000 participants between 2018 and this April.

  • The top 10% of farmers collected 54% of the bailout payments.
  • 82 farmers got $500,000 or more.
  • In Missouri, the DeLine Farm Partnership received $2.8 million.
  • The bottom 80% of farmers accepted payments averaging less than $5,000.

What's next: President Trump recently approved another $16 billion in new aid for farmers this year to offset the impact of tariffs. However, the aid will "be tied to the acreage planted, making more explicit 'the bigger the farm, the bigger the government check,'" writes Bloomberg.

Go deeper: China trade war: Trump suggests farmers will benefit from tariffs

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Washington Redskins will change team name

Photo: Patrick McDermott/Getty Images

The Washington Redskins announced Monday that the NFL team plans to change its name.

Why it matters: It brings an end to decades of debate around the name — considered by many to be racist toward Native Americans. The change was jumpstarted by nationwide protests against systemic racism in the U.S. this summer.

Houston public health system CEO says coronavirus situation is "dire"

Houston's coronavirus situation is "dire, and it's getting worse, seems like, every day," Harris Health System CEO and President Dr. Esmail Porsa said Monday on MSNBC's "Morning Joe."

The big picture: Porsa said the region is seeing numbers related to the spread of the virus that are "disproportionately higher than anything we have experienced in the past." He noted that Lyndon B. Johnson Hospital's ICU is at 113% capacity, and 75% of its beds are coronavirus patients.

Fund managers start to board the stock bandwagon

Illustration: Aïda Amer/Axios

Asset managers at major U.S. investment firms are starting to get bullish with their clients, encouraging stock buying and trying not to get left behind right as the metrics on tech stocks rise back to highs not seen since the dot-com crash of 2000.

What's happening: Appetite for stocks is starting to return, but slowly as institutional money managers were overwhelmingly sitting on the sidelines in cash during April and May.