Washington, D.C (June 21, 2018)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the House’s passage of the Agriculture and Nutrition Act of 2018 (H.R. 2).
“ICBA and the nation’s community bankers appreciate that the full House was able to pass the farm bill today. Although there are sharp partisan differences regarding nutrition and other programs, we believe that a bipartisan compromise can eventually be reached by Congress as the House and Senate bills move forward.
“Such an outcome is necessary to ensure producers and their lenders have a degree of price protection and predictability for the next five years. Producers and other stakeholders in our rural communities need the safety net that a farm bill provides given the sharp drop in net farm income in recent years and the uncertainties over trade issues.
“ICBA has urged Congress to maintain commodity price protections and a strong crop insurance program. ICBA also supports the bill’s increase for guaranteed farm loan limits to $1.75 million from $1.39 million, in addition to other important programs, and opposes granting the Farm Credit System new lending powers.”
For more information, view ICBA’s farm bill infographic and “Focus on Farm Policy” white paper.
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 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. For more information, visit ICBA’s website at www.icba.org.