AGRICULTURE AND RURAL AMERICA

Letters and Testimonies

Letters to Congress

Title Recipient Date
Committee on Agriculture 06/14/21
U.S. House of Representatives 03/25/21
Senate Agriculture Committee 02/26/21
House Rules Committee 02/25/21
House, Senate Budget Committees 02/24/21
House, Senate Appropriations Committees 02/24/21
02/22/21
House, Senate Appropriations Subcommittees 12/04/20
Rep. Andy Barr 10/08/20
U.S. Senate Committee on Agriculture, Nutrition & Forestry 07/28/20

Letters to Regulators

Title Recipient Date
Farm Credit Administration 07/20/21
USDA 04/09/21
OMB 03/18/21
USDA, OMB 02/24/21
USDA 10/08/20
Governors 03/24/20
President Donald Trump 03/19/20
CEQ 03/10/20
U.S. Domestic Hemp Production Program 01/29/20
FDIC, Fed, OCC 12/16/19

Testimony

Title Committee Presenter Date
House Agriculture Committee Steven J. Handke 12/11/19
House Agriculture Subcommittee on Commodity Exchanges, Energy and Credit Written Statement 11/19/19

Ag News

ICBA to USDA: Ensure loan payoffs don’t harm lenders, purchasers

ICBA called on the USDA to ensure lenders are compensated for lost income as it prepares to pay off direct and guaranteed farm loans held by Socially Disadvantaged Farmers and Ranchers.

Background: Section 1005 of the American Rescue Plan Act requires the USDA to pay off such loans in existence as of Jan. 1, 2021, by providing up to 120 percent of the outstanding indebtedness for each SDA borrower. The USDA is establishing a process for these loan payments.

Impact: In a letter, ICBA said the abrupt payoff of guaranteed loans could have adverse consequences unless the USDA minimizes disruptions to lenders participating in its guaranteed loan programs or acting as secondary market purchasers.

ICBA Position: In addition to making lenders whole, ICBA also said purchasers of USDA loan guarantees should be paid for lost premium values. Further, the USDA could consider assuming the payments of loans that are not delinquent and have not been associated with previous legal challenges, ICBA said.