FOR IMMEDIATE RELEASE
ICBA Praises Senate Agriculture Committee for Advancing the 2007 Farm Bill
Washington, D.C. (Oct. 25, 2007)—The Independent Community Bankers of America (ICBA) praised the Senate Committee on Agriculture, Nutrition and Forestry for adopting the 2007 Farm Bill today.
"The Senate Agriculture Committee has passed significant budget and policy hurdles in moving the Farm Bill out of committee and should be congratulated in their efforts to move this important legislation forward," said James P. Ghiglieri, Jr., ICBA chairman and president of Alpha Financial Group, Inc., Toluca, Ill. "Farm bills are important safety nets for farmers and ranchers in meeting their long-term planning and operating needs and factor into the ability of lenders to make credit widely available in rural areas."
"ICBA is also pleased that the Senate Agriculture Committee did not include legislative expansions of the Farm Credit System (FCS), a government-sponsored, tax-advantaged entity. As the Farm Bill process moves forward, we urge the full Senate to likewise not include any FCS expansions," said Camden Fine, ICBA president and CEO. "There is no lack of credit in rural areas and the FCS is experiencing its most rapid growth in over a quarter century. ICBA looks forward to working with the full Senate to secure passage of a bill that keeps the focus on farmers and ranchers."