Cotton Textile Committee and the National Organizing Committee in close cooperation

The U.S. Department of Agriculture announced the Financial Assistance Scheme for the textile provisions and guidelines to enhance the modernization of the textile industry and competitiveness. According to the plan, a textile mill in line with the conditions of the acquisition of cotton, availability of 4 cents per pound of cotton subsidies, the funds must be acquired, construction, installation, updates, development, transformation, expansion or land, plants, buildings, equipment, facilities Machinery or equipment into the enterprise.

According to the law to pay from August 1, 2008 onward, due to the completion of the writing requirement to spend a long time, the cotton will be paid on August 1, 2008 date. This will continue until July 31, 2012.

The Committee of the National Textile Organization (NCTO) president Anderson Warlick said, according to the economic adjustment assistance program for the timely release of funds for the U.S. textile industry is very important because the United States textile industry is facing financial difficulties, they have to overcome many difficulties, including the uncertainty of market factors The economic downturn of subsidized imports of textiles and clothing led to the U.S. market is shrinking. These funds will help the textile industry to continue to update equipment at the same time, maintain the competitiveness of the textile industry.

National Cotton Council of the United States signed the plan, the Commission and the National Cotton Textile close Organizing Committee to help bring the plan into the 2008 farm bill.