Tuesday, March 23, 2010

Just in from Washington

Jake Putnam photo

U.S. House Approves Agricultural Credit Act

Washington--The U.S. House of Representatives passed the Agricultural Credit Act of 2009. The House Agriculture Committee approved both bills for consideration by the House earlier in March.

The Agricultural Credit Act of 2009 (H.R. 3509) reauthorizes funding for the state agricultural mediation grant program.

The grants fund local mediation programs that help farmers, their creditors, and USDA agencies take care of disputes including loan problems and USDA adverse decisions.

"The grant program for state agricultural mediation is a good-government program that helps thousands of Americans find practical solutions to loan problems and USDA adverse decisions," Agriculture Committee Chairman Collin Peterson said.

Chairman Peterson is the Agriculture Committee Ranking Member Frank Lucas is an original cosponsor of H.R. 3509, which attracted bipartisan support.

"I am pleased that my colleagues in the House joined me in passing the Agriculture Credit Act, said Peterson, Like most of the country, the agriculture sector is currently experiencing increased financial stress, which has created a greater need for the service of the agriculture mediator program."

"This program provides our farmers and ranchers with a voluntary and low-cost way to mediate disputes that arise between creditors, or to address adverse decisions with USDA," said Rep.Lucas.

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