Montana Farmers Union member John Wicks testified before the House Agriculture Committee’s Subcommittee on General Farm Commodities, Risk Management, and Credit, emphasizing the crucial role of credit and risk management in sustaining family farms.
“While access to affordable and reliable credit and well-functioning risk management tools are important for family farmers, we must have fair and competitive markets and a robust farm safety net,” Wicks said during his testimony. He pointed out that although recent changes to the farm safety net may ease some of the burden caused by persistently high input costs and low commodity prices, major economic pressure remains. According to Wicks, unchecked corporate monopolies in the agricultural sector continue to threaten farmers’ financial stability.
Wicks offered several recommendations to improve the Farm Service Agency’s loan program. He urged lawmakers to raise loan limits to match the current economic landscape, make debt restructuring more attainable, and ensure programs are better tailored to the diverse needs of all producers.
