Farm Groups Urge Adequate Funding for FSA Loan Programs
USAgNet - 06/15/2017
In a letter to leadership of the House and Senate Appropriations Committees, the American Soybean Association and a coalition of farm, food and rural advocacy groups led by the National Farmers Union encouraged lawmakers to adequately fund
the USDA's Farm Service Agency to provide a robust risk management framework for farmers in the current lagging farm economy.
"With the farm economy only expected to worsen, access to credit, specifically credit provided through the FSA Farm Loan programs, is critical," the groups wrote.
Highlighting the continued outlook for trouble in the farm economy, the groups noted that funding will be essential as farmers look to secure operating loans in the coming seasons.
"The outlook for 2017 grain and livestock prices appears to be no better than in 2016, likely meaning FSA loans will be even more vital to the financial viability of farm and ranch operations. The added funding will help FSA avoid backlog issues
faced last year and during the beginning of this year," the groups state in the letter.