FOR IMMEDIATE RELEASE
ICBA Urges Congress to Adopt New Farm Bill
Washington, D.C. (Jan. 28, 2014)—Bill Loving, chairman of the Independent Community Bankers of America® (ICBA) and president and CEO of Pendleton Community Bank in Franklin, W.Va., released this statement today urging Congress to complete final action on a new farm bill, the Agricultural Act of 2014 (H.R. 2642).
“ICBA urges House and Senate members to complete action on a new farm bill in the coming days. Adopting a new farm bill would be a long-awaited, significant step to lay the foundation for the continued success of many farmers and ranchers and the community banks that serve them. By providing a solid crop insurance program and enhanced USDA guaranteed loan programs and other programs, our farmers and ranchers will be well positioned to make their business plans over the next five years. Further, community banks will be well positioned to extend loans and financial products to help them as they produce the commodities that feed our nation and the many buyers of our exports.
“While this farm bill may not be perfect legislation, few if any bills based on extensive compromise are, and this one has taken an enormous amount of effort to get near the goal line. Farmers and ranchers and their community bank lenders and rural communities need the certainty that the bill’s long-term policy provides rather than lurching from year to year and extension to extension. ICBA appreciates the strong focus on crop and revenue insurance programs and that the bill removes term limits on guaranteed farm operating loans, among other enhancements to federal farm policy.
“ICBA continues its call for Congress and the administration to finalize a new farm bill as soon as possible.”
For more information, visit www.icba.org.
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.