[Congressional Record Volume 145, Number 38 (Wednesday, March 10, 1999)]
[Extensions of Remarks]
[Page E384]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 THREE-MONTH EXTENSION OF REENACTMENT OF CHAPTER 12, TITLE II, UNITED 
                              STATES CODE

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                               speech of

                             HON. RON KIND

                              of wisconsin

                    in the house of representatives

                         Tuesday, March 9, 1999

  Mr. KIND. Mr. Speaker, I rise today in support of H.R. 808, a measure 
that would extend by an additional 3 months the Chapter 12 farm 
bankruptcy code. This legislation is a stopgap measure that would 
continue the program past its April 1 expiration date.
  Farmer friendly bankruptcy and reorganization provisions are needed 
now more than ever before. This past Friday, dairy farmers saw their 
price collapse by 39% as the February Basic Formula Price fell to 
$10.27 per hundredweight, a $6 decline from the proceeding month.
  When Congress originally passed the Chapter 12 farm bankruptcy code 
in the mid-1980s they realized that our nation's family farmers 
oftentimes face economic difficulties that were not of their making and 
are essentially out of their control. The prices of nearly all 
commodities including livestock, milk, grains and feedstuffs were or 
are at near record low prices. As a result, it is imperative that 
Congress work to create federal financial mechanisms that recognize 
these difficulties.
  Mr. Speaker, I am happy to join my colleagues in supporting this 
worthwhile measure.

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