Bankers List Goals for New Farm Bill, Ways to Prevent Farm Crisis

The Independent Community Bankers of America is urging Congress to adopt a new long-term farm bill incorporating five broad goals and offered enhancements to USDA programs to prevent a farm credit crisis. Testifying before the Senate Agriculture Committee Tuesday, an ICBA representative advocated for Congress to adopt a dynamic multi-year farm bill to provide continuity and enable agricultural producers and their lenders to engage in multi-year business decision making. The organization wants Congress to provide producers ample funds for commodities, crop insurance and credit programs to help them weather a potential farm income or farm credit crisis. Other goals include: considering any program changes that benefit producers and their community banks, directing agencies to reduce regulatory burdens and prohibit regulations not based on statutory language, require federal agencies' rules to treat all categories of program participants fairly, and requiring direct loan programs to complement, not undercut, private sector lending.