Suspension Of Limitation On Period For Which Borrowers Are Eligible For Guaranteed

SUSPENSION OF LIMITATION ON PERIOD FOR WHICH BORROWERS ARE ELIGIBLE FOR GUARANTEED ASSISTANCE -- (House of Representatives - December 08, 2006)

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Mr. GOODLATTE. Mr. Speaker, I rise in support of S. 4093. This bill will modify the expiration date of a provision of the farm bill dealing with farm credit so that it expires concurrent with the rest of the farm bill. Currently, a provision of the farm bill dealing with guaranteed loans for farmers and ranchers expires on December 31 of this year. The rest of the farm bill, however, does not begin to expire until September 30, 2007. By passing S. 4093, we are ensuring that this credit program has the opportunity to be fully debated during the development of the next farm bill. Should this provision expire in the next few days, it could create hardship on the part of those farmers, ranchers and lenders to whom it would apply. I ask my colleagues to support S. 4093 so that this credit program, which is important for America's young and beginning farmers, has the opportunity to be debated and reevaluated during development of the next farm bill without causing undue hardship with limited notice to the farmers and ranchers that use this important program.

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