A strong farm bill provides stability for the volatile farm sector and incorporates important policies, such as price-support programs, crop insurance and loan guarantee programs.
May 14, 2013
Washington, D.C. (May 14, 2013)—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 following the Senate Agriculture Committee’s 15-5 vote passing a new farm bill, the Agriculture Reform, Food and Jobs Act of 2013.
“ICBA thanks the Senate Agriculture Committee for passing a new farm bill. Today’s action is a tremendous step as it moves the farm bill towards completion of a new five-year farm policy. This is vitally important to community bankers and their farm customers because it provides a level of certainty for making farm loans and business-planning decisions, while authorizing important USDA guaranteed loan programs. Additionally, ICBA appreciates the strong focus on crop and revenue insurance programs, and that the bill removes term limits on guaranteed farm operating loans.
“ICBA looks forward to working with members of the Senate to further refine the bill, while also urging members of the House Agriculture Committee to pass their version of the farm bill this week so both bills can eventually move to conference and be passed by Congress.”
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. For more information, visit www.icba.org.