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Shining Light on Farm & Food Policy for 20 Years.
Friday, December 20, 2024
Distressed borrowers will be able to defer one annual loan installment at a reduced interest rate and take advantage of a simplified application process for Farm Service Agency loans.
Ag real estate values in the area covered by the Kansas City Fed stayed strong through the end of 2023, according to the latest survey of bankers in the area covered by the Tenth Federal Reserve District.
House Republicans remain unable to agree on a continuing resolution to keep the government funded in October. Meanwhile, senators left town Thursday still unable to get agreement on bringing up a three-bill spending package that includes its version of the USDA-FDA bill.
Community bankers are rallying around a proposal that would provide banks with tax exemptions on interest earned from agricultural real estate or home loans in communities whose populations are below 2,500.
Farm groups are calling for Agriculture Department loan program payment rates to be increased in the upcoming farm bill, while agency officials look at other ways to make the programs more accessible and flexible for producers.
The Agriculture Department has launched an online tool that will streamline the farm loan application with an eye toward ensuring more equitable treatment of producers.
Some farmers could face foreclosure on USDA loans as soon as this fall, so the department may begin providing some newly authorized debt relief through a phased-in approach in order to address the immediate need for help, Agriculture Secretary Tom Vilsack says.
Leaders of the Senate Agriculture Committee heard from Michigan producers who represent a broad range of commodities, scale and farming practices as the panel formally started hearings on the next farm bill.
Democrats forced a $16.1 billion agriculture stimulus plan through the House Agriculture Committee on Wednesday, brushing aside Republican assertions that a provision providing debt relief for minority farmers was far too broad and could face legal challenges.
