Additional USDA assistance available for distressed farmers
USDA will provide approximately $123 million in additional, automatic financial assistance for qualifying farm loan program borrowers who are facing financial risk.
USDA will provide approximately $123 million in additional, automatic financial assistance for qualifying farm loan program borrowers who are facing financial risk.
Crop and livestock prices are still strong despite declining from recent highs, and the farm sector enters the new year in good financial health with a strong cash position and solid balance sheet following a year of record-high net cash farm income in 2022.
The commission made 32 recommendations for the department to root out discrimination, remove barriers to USDA’s programs and commit to addressing farmworkers’ needs.
FCA should slow down mergers of large and midsize associations until it can assess FCSIC capacity to resolve a large, troubled association.
The legislation would remove the tax liability for distressed farmers on the assistance provided under Sections 22006 and 22007 of the Inflation Reduction Act.
David Scott (D-Ga.) was elected by the House Democratic Caucus to serve as ranking member of the committee.
Ag leadership development programs provide training and skillsets that translate well into talents needed by successful bankers.
“We’re a small bank, and it gets more expensive all the time to run a small community bank,” says Andy Anderson, president and CEO of Bank of Anguilla in Anguilla, Mississippi. “As long as we can do this profitably and remain in our community, that’s what we want to do.”
ABA supports the proposed changes’ goals, but said without refinement they would have unintended consequences, particularly in rural areas.
Reporting component of the SEC proposal would place “undue burden” on farmers who provide raw products to the value chain, opponents say.