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|Testimony on Commodity Programs, Credit, and Crop Insurance
|Senate Agriculture Committee
June 20, 2013
Washington, D.C. (June 20, 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 House’s 195-234 vote rejecting H.R. 1947, the Federal Agriculture Reform and Risk Management Act of 2013.
“ICBA appreciates the hard work that so many members and staff have put into passing a new five-year farm bill. Farm bills are never easy to pass due to the wide divergence of opinions on the many issues they encompass. However, we urge the House to continue their efforts to adopt a farm bill, which is so very important to our nation’s rural communities.
“Farmers and ranchers and their lenders need a new five-year bill to make long-term planning decisions. Having this important safety net in place allows producers to secure loans and provides some assurance to lenders of their repayment ability. The bill would have reauthorized important USDA business and farm loan programs and strengthened crop and revenue insurance programs that have become essential risk management tools for most farmers.
“Differences need to be overcome for a farm bill to be enacted this year.”
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.