[Congressional Record (Bound Edition), Volume 145 (1999), Part 6]
[Extensions of Remarks]
[Pages 8937-8938]
[From the U.S. Government Publishing Office, www.gpo.gov]




       FUNDING FOR THE AGRICULTURAL CREDIT INSURANCE FUND PROGRAM

                                 ______
                                 

                            HON. ROBIN HAYES

                           of north carolina

                    in the house of representatives

                         Thursday, May 6, 1999

  Mr. HAYES. Mr. Speaker, I rise today in support of our nation's 
farmers and therefore, in support of Mr. Latham's amendment. On March 
24th, over a full month ago, we passed a supplemental appropriations 
bill which included $110 million to support $1.1 billion for loans that 
farmers and ranchers need to finance this season's work in the fields 
and pastures. These farmers needed that money a month ago; they are now 
nearing desperation.
  In my district alone, the eighth district of North Carolina, there 
are several million dollars worth of loan applications that have been 
turned in to the local FSA offices. These farmers are struggling to get 
their finances in order because they are relying on what appears to

[[Page 8938]]

be an unreliable source--the Federal Government. This is more than a 
matter of delay in many cases, this is a matter of continuing to be a 
farmer, or finally giving up and throwing in the towel on the 
livelihood they know and love.
  In addition to the farmers who are depending on these loans to put a 
crop in the field this year, I also have poultry and dairy farmers who 
are going to miss a season of revenue due to the loan situation. Many 
of my poultry farmers have been in the process of transitioning from 
raising turkeys to raising chickens and have lost their chicken house 
contractors because the builders have moved on to sites where they are 
sure to receive prompt payment. Again, that leaves those chicken 
farmers without chicken houses and therefore, without revenue. A full 
season of no revenue will affect these farmers for more than just one 
season.
  To make matters worse, even when we do finally pass this legislation, 
we have caused a loss of faith from traditional lenders. Banks are now 
turning down farmers simply because they don't want to deal with farm 
applications. This is further limiting farmers because of Congress' 
inability to pass appropriations and provide a loan program that is 
reliable.
  I will close by saying what we all already know, we have a critical 
situation right now in farm country. Congress has within its power the 
ability to alleviate some of the financial duress that agriculturists 
are feeling. Do the right thing today, pass this amendment and let's 
get to work on restoring faith in our system.

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