Farm Credit head: Stabilize ethanol, pass USMCA

Nov 20, 2019
In The News

Farm Credit head: Stabilize ethanol, pass USMCA

Published by: the Fence Post

Farmers need the Trump administration to stabilize the biofuels market and Congress to approve the U.S.-Mexico-Canada Agreement on trade, Farm Credit Administration Chairman and CEO Glen Smith told the House Agriculture Commodity Exchanges, Energy and Credit Subcommittee today.

Asked by House Agriculture Committee Chairman Collin Peterson, D-Minn., for his views on biofuels, Smith said he is following the industry “extremely closely.”

“To keep that industry vital and growing as promised is critical,” Smith said. “This country and Congress called on the industry to fill a need” and “it is only fair” to farmers for the government to maintain a stable market for corn-based ethanol and biodiesel.

Asked by Scott about farmer suicides, Smith said farm credit institutions try to be “empathetic lenders” and loan officers try to watch for signs of borrowers in trouble.

Smith also told Rep. David Scott, D-Ga., that Congress should pass the USMCA “as soon as possible.”

The Market Facilitation Program payments that the Agriculture Department has created through the Commodity Credit Corporation to make up for lost exports are helping farmers in the short term, but “long term we need those markets back,” he said.

Recent Posts


Oct 25, 2024
Agriculture and Trade

Crawford Co-Leads Legislation to Aid Farmers 

Crawford Co-Leads Legislation to Aid Farmers  10/25/2024 Washington, D.C. – Representative Rick Crawford (AR-01) joined 47 of his colleagues in introducing legislation that will provide immediate support to farmers as Congress continues debating a long-term Farm Bill. The Farm Assistance and Revenue Mitigation Act (FARM Act) provides emergency assistance to producers of eligible commodities for which the […]



Jul 1, 2024
Press

Rep. Crawford Statement on SCOTUS Decision in Trump v. United States

FOR IMMEDIATE RELEASE Contact: Sara Robertson (Sara.Robertson2@mail.house.gov) Rep. Crawford Statement on SCOTUS Decision in Trump v. United States 7/1/2024 Washington, D.C. — Representative Rick Crawford (AR-01) released the following statement after the U.S. Supreme Court’s decision in Trump v. United States. “The SCOTUS decision today confirms that a President is immune from criminal prosecution for official acts within his […]



Jun 27, 2024
Economy

Steel Caucus Voices Concerns of Potential Trade Status Change for Vietnam

FOR IMMEDIATE RELEASE Contact: Sara Robertson (Sara.Robertson2@mail.house.gov) Steel Caucus Voices Concerns of Potential Trade Status Change for Vietnam 6/27/2024 Washington, D.C. – 37 Bipartisan Members of the Congressional Steel Caucus, led by Chairman Rick Crawford (AR-01) and Vice Chairman Frank Mrvan (IN-01) sent a letter to the secretary of commerce, Gina Raimondo, expressing concern about the department’s reconsideration […]