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Senate Ag witnesses urge swift five-year farm bill as lenders warn of planting-credit crunch
Summary
Witnesses told the Senate Agriculture Committee that a long-term farm bill is urgently needed to shore up the farm safety net, protect rural economies and preserve credit access after lenders warned some producers may be unable to finance planting this year.
Senate Agriculture Committee Chairman John Boozman and witnesses at a committee hearing said Congress must quickly pass a strong five-year farm bill to shore up the farm safety net and stabilize rural credit as lenders and cooperatives report worsening conditions.
The committee heard consistent testimony that current short-term assistance helps but cannot substitute for a reauthorized farm bill. "If we expect current and future generations of producers to not only survive, but thrive, we need to pass a strong 5 year farm bill this year," Chairman Boozman said in opening remarks. In testimony, Ben Noble, executive vice president and chief operating officer of Riceland Foods, described acute local impacts: "We're selling our…
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