By a narrow vote of 213 to 211, the House today passed the 2018 farm bill, a crucial step toward ensuring the well-being of the nation’s farmers and ranchers and the 2,000 farm banks that serve them. The Senate is expected to bring its version to the floor in the coming weeks.
“This farm bill will help ensure those banks will be able to continue to provide a broad array of financial services to the agricultural sector,” American Bankers Association President and CEO Rob Nichols noted after the bill was passed. “We are particularly pleased that members recognized the vital role of programs like crop insurance and USDA loan guarantees. These programs help farm banks make loans and manage risk in both good times and bad, which is critical to maintaining a stable and vibrant farm economy.”
