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The White House is announcing it will invest one billion dollars in an effort to boost competition in the meat-processing industry.
The Biden Administration is planning to allocate the funds from the American Rescue Plan to independent meat and poultry producers as part of an effort to lower prices for U.S. consumers.
President Biden is set to meet virtually today with family and independent farmers and ranchers to talk about the plan to create "a more competitive, fair, resilient meat and poultry sector."
This comes as food prices, especially for beef, have skyrocketed due to inflation and global supply chain issues.