The House Appropriations Committee today passed an agricultural appropriations bill that includes funding for its guaranteed farm ownership and operating loan programs.
While cuts to ag loan programs were made across the board, lawmakers set funding for the guaranteed farm ownership loan program at $2.5 billion for fiscal year 2018, consistent with previous appropriations bills. Through an American Bankers Association-supported amendment, the bill also included an increase in funding for the guaranteed farm operating loan program from $1.4 billion to $1.6 billion. As it has in previous years, the bill includes a provision allowing the secretary of agriculture to request an additional funding increase of up to 25 percent for agricultural lending programs, if needed. For more information, contact ABA’s Ed Elfmann.Email This Post