ICBA said it supports the Farmer Assistance and Revenue Mitigation Act (H.R. 10045), which would offer targeted relief to farmers who have suffered crop losses due to the impact of adverse weather conditions and low commodity prices.
Details: In a letter of support to Rep. Trent Kelly (R-Miss.), ICBA said:
The FARM Act will assist producers who have suffered economic losses and may be unable to show a positive cashflow on their operations, making it difficult for them to qualify for bank loans.
The payments the FARM Act provides to affected producers would allow many of them to access the credit they need to continue their operations.