In a joint letter with the Independent Community Bankers of America on Tuesday, the American Bankers Association wrote to leaders of the House and Senate Agriculture Committees thanking them for their efforts to craft the 2018 Farm Bill. “Given the sharp reduction in the net farm income of more than 50 percent since 2013, a new Farm Bill is vital to the economic viability of our nation’s farmers and ranchers and our rural communities,” the associations said. 

Acknowledging that many changes are likely as the bill moves through Congress, ABA and ICBA noted their support for a strong and robust commodities title, protecting and improving the crop insurance program, and enhancements to and greater flexibility for the United States Department of Agriculture’s guaranteed farm loan programs. They also urged the committee not to consider any expansion for the Farm Credit System in the bill. Read the letter.