ICBA urges Congress to pass emergency farm aid

ICBA called on Congress to pass a farm bill extension and a farm aid package in addition to assisting citizens recovering from weather-related disasters.

ICBA Statement: In a national news release, ICBA President and CEO Rebeca Romero Rainey said community bankers urge passage of legislation to assist farmers and ranchers as Congress approaches its Dec. 20 deadline for passing a continuing resolution to keep the government open.

Impact: “Legislation to provide financial assistance to producers, many of whom have had consecutive years of production losses due to low commodity prices, is necessary to enable producers to show positive cashflows in their operations as they seek bank loans for the year ahead,” Romero Rainey said. “For the sake of our nation’s food security and the continued viability of rural America, we must ensure farmers and ranchers have access to the credit they need to continue their operations.”

Background: The 2018 farm bill’s previous extension through Sept. 30, 2024, has expired, requiring Congress to extend the bill for another year to ensure programs maintain authorization. Talks on a $10 billion to $12 billion farm aid package broke down over the weekend due to differences over which provisions should be included.

ICBA Action: ICBA has urged support of farm aid legislation (FARM Act, H.R. 10045). ICBA urges community bankers to call their members of Congress and urge inclusion of a farm aid package in the CR.

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