Community Bankers Association of Illinois

Farm Bill Clears Senate Without FCS Provisions!!

Assistant Majority Leader Richard Durbin voted to support the 2007 Farm Bill passed late last Friday. Illinois' junior Senator Barack Obama did not vote. This action by the U.S. Senate will move the important legislation one step closer toward completion. CBAI joins with the ICBA to applaud the Senate for passing a 2007 farm bill late last week without any provisions that would expand the Farm Credit System's nonfarm mortgage and commercial lending powers! CBAI, ICBA and community bankers throughout the United States have worked very hard to prevent this type of expansion by FCS. CONGRATULATIONS on a hard fought victory!! CBAI and the ICBA look forward to working with lawmakers as the farm bill continues to be worked on in a House-Senate conference committee.

"Given its importance to the rural economy and the need for farmers and their lenders to make operating and planning decisions, it is necessary for a new farm bill to move forward," said ICBA Chairman Jim Ghiglieri, president of Alpha Financial Group Inc. in Toluca, Ill. ICBA will continue to carefully monitor the farm bill as it moves through the conference and its final stages to ensure that no FCS expansion provisions are included."

Please feel free to contact CBAI's Department of Governmental Relations directly with any questions or comments regarding this update by calling 800/736-2224.

  800.736.2224 (IL) | 217.529.2265  
  DISCLAIMER: The association is not responsible for and has no control over the subject matter, content, information, or graphics when viewing links attached to this association's site.