FOR IMMEDIATE RELEASE
ICBA Pleased Senate on Verge of Passing New Farm Bill
Washington, D.C. (Feb. 3, 2014)—Bill Loving, chairman of the Independent Community Bankers of America® (ICBA) and president and CEO of Pendleton Community Bank in Franklin, W.Va., said ICBA is pleased that the U.S. Senate agreed to a cloture vote today to move the farm bill (H.R. 2642, the Agricultural Act of 2014) to a final Senate vote this week.
“ICBA is pleased the Senate agreed to cloture on a new farm bill today. Moving the farm bill to the verge of congressional passage has been a slow and difficult process that has been years in the making. We appreciate the Senate’s action today and urge senators to adopt the bill this week so the president can sign the bill in the near future.
The farm bill provides a long-term framework for agricultural and rural policies that will benefit rural America, our farmers and ranchers, and the community banks that serve them. ICBA appreciates that the farm bill furthers key ICBA objectives in that it strengthens crop and revenue insurance programs, removes term limits on USDA guaranteed farm operating loans, and provides a five-year policy framework that allows farmers and ranchers and their lenders a stable basis on which to make long-term business decisions.
ICBA continues to urge quick action on passing a new farm bill.
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.