Boswell Fights to Reinstate FSA Assistance to Iowa Farmers and Producers

Today, Congressman Leonard Boswell introduced H.R. 1233, which would suspend borrower term limitations on Farm Service Agency assistance to Iowa's farmers and producers, and renew loan assistance for 251 farm operations in Iowa that lost access to the program at the end of 2010.

"Iowa farmers and producers depend on this assistance to keep their operations going, especially with credit markets still tight," Boswell said. "This bipartisan legislation would reinstate the suspension of term limitations on Farm Service Agency assistance to help farm families in Iowa and across the United States who lost access to these loans at the end of 2010, while allowing Congress to address these limitations in the 2012 Farm Bill."

FSA guaranteed farm loan programs are designed to serve farmers and ranchers with weaker financial profiles who would not otherwise qualify for credit. The downturn in prices in several farm sectors and widespread weather disasters of recent years has placed increasing financial hardship on farm families. In Iowa, 251 farm operations lost access to this assistance at the end of 2010. More than 450 would be ineligible for these programs within two years.

The 2008 Farm Bill suspended borrower term limits on FSA guaranteed farm loan programs through the end of 2010. On January 1, 2011, these limits were reinstated, making many farmers and ranchers ineligible for additional credit through these programs.

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