Press Releases

Washington, D.C. – Today, the House Agriculture Committee’s Commodity Exchanges, Energy and Credit Subcommittee held a hearing to receive an update on credit conditions from the Farm Credit Administration. After the hearing, Subcommittee Ranking Member Austin Scott (GA-8) and Committee Ranking Member K. Michael Conaway (TX-11) released the following remarks:

“With net farm income struggling, it’s now more important than ever to examine the soundness of the Farm Credit System to make certain that farmers and ranchers have dependable access to credit at competitive rates. This network of lenders gives American farm families financial opportunities that they might not otherwise have to expand their business or weather a bad year,” said Subcommittee Ranking Member Scott.

“The Farm Credit Administration plays an integral role in ensuring that the System banks are operating within the Farm Credit Act to aid America’s farmers and ranchers in accessing credit. On the whole, I believe that the Farm Credit system is fundamentally safe and sound. I’m grateful that Mr. Smith was able to take the time today to provide this important update to our Committee,” said Ranking Member Conaway.