Washington, D.C. (Dec. 11, 2018) — Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Senate’s passage of the Agriculture and Nutrition Act of 2018 (H.R. 2).
“ICBA applauds today’s bipartisan Senate vote to pass a new farm bill and urges the House to quickly pass the legislation for President Trump’s signature.
“The bipartisan conference report includes important commodity price protections that will provide producers and community banks with greater business-planning certainty over the next five years. This is essential during an era of low commodity prices, sharply lower net farm income, and foreign trade uncertainties.
“Importantly, the farm bill adopted today by the Senate also maintains a strong crop insurance program, increases USDA guaranteed farm loan limits to $1.75 million, and provides for the possible increase in guaranteed USDA rural development loans—all of which are ICBA and community bank priorities.
“ICBA and the nation’s community bankers appreciate the Senate’s action and likewise urge the House to ensure final passage.”