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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.
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Dec. 16, 2024
Washington, D.C. (Dec. 16, 2024) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement urging Congress to pass a farm bill extension and a farm aid package in addition to assisting citizens recovering from weather-related disasters.
“As Congress rapidly approaches its Dec. 20 deadline for passing a continuing resolution to keep the government open, ICBA and the nation’s community banks strongly encourage congressional leaders to approve important legislation to assist our farmers and ranchers. In addition to the need for Congress to pass a farm bill extension and disaster relief legislation, many of our nation’s farmers and ranchers are suffering from significant economic losses due to falling commodity prices and high input costs.
“Legislation to provide financial assistance to producers, many of whom have had consecutive years of production losses due to low commodity prices, is necessary to enable producers to show positive cashflows in their operations as they seek bank loans for the year ahead. For the sake of our nation’s food security and the continued viability of rural America, we must ensure farmers and ranchers have access to the credit they need to continue their operations. Our nation’s community banks stand ready and willing to help our farmers and ranchers, but we ask Congress to do its part by passing a farm aid package and a farm bill extension as part of the CR prior to adjourning in the coming days.”
About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.
As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.
